I’m not very knowledgeable about the crypto exchange space. What advantages might FTX becoming a Profit for Good Company create? Could crypto investors go with them instead of competitors because the profits generated are for the benefit of effective charities?
At this point FTX turning into a PFG would be very bad optics for the movement and maybe a net negative.
I turned to FTX because I knew what SBF would do with the profits, but many don’t know that, and I think they could have done better if they advertised that fact to consumers. FTX has loads of external for-profit capital so that makes it very hard for them to turn to the PFG model in practice though.
I’m not very knowledgeable about the crypto exchange space. What advantages might FTX becoming a Profit for Good Company create? Could crypto investors go with them instead of competitors because the profits generated are for the benefit of effective charities?
At this point FTX turning into a PFG would be very bad optics for the movement and maybe a net negative.
I turned to FTX because I knew what SBF would do with the profits, but many don’t know that, and I think they could have done better if they advertised that fact to consumers. FTX has loads of external for-profit capital so that makes it very hard for them to turn to the PFG model in practice though.