Executive summary: Effective Ventures has reached settlements with the FTX bankruptcy estate, paying $26.8 million to resolve claims. It plans to decentralize and spin off its projects into independent entities over the next 1-2 years.
Key points:
EV paid $26.8 million to the FTX estate to settle claims, using funds originally from FTX or donated for this purpose. This resolves EV’s financial issues with FTX.
An independent investigation found no evidence EV staff or leadership knew about FTX’s criminal fraud. More lessons learned will be shared later.
EV has implemented governance improvements like policies, procedures, due diligence processes. It will continue improving oversight.
EV plans to decentralize by transitioning projects like CEA and 80K Hours into independent legal entities over 1-2 years.
Decentralization will increase ecosystem resilience, enable custom structures, but involves some friction. EV will share more reflections on lessons learned.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, andcontact us if you have feedback.
Executive summary: Effective Ventures has reached settlements with the FTX bankruptcy estate, paying $26.8 million to resolve claims. It plans to decentralize and spin off its projects into independent entities over the next 1-2 years.
Key points:
EV paid $26.8 million to the FTX estate to settle claims, using funds originally from FTX or donated for this purpose. This resolves EV’s financial issues with FTX.
An independent investigation found no evidence EV staff or leadership knew about FTX’s criminal fraud. More lessons learned will be shared later.
EV has implemented governance improvements like policies, procedures, due diligence processes. It will continue improving oversight.
EV plans to decentralize by transitioning projects like CEA and 80K Hours into independent legal entities over 1-2 years.
Decentralization will increase ecosystem resilience, enable custom structures, but involves some friction. EV will share more reflections on lessons learned.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.