Found this reporting interesting. The entire financial operation was expressly set up by funding from top Effective Altruists. I think we previously saw EA as resembling a victim in this scenario, but I am curious how that understanding evolves at this moment as we learn more.
When Bankman-Fried and others like Mac Aulay tried to raise money for the idea from crypto investors outside the Effective Altruism movement, they weren’t taken seriously. Without backers inside Effective Altruism, it’s hard to imagine Bankman-Fried, a recent college grad, getting more than $100 million to play with at a crypto trading firm. And without Alameda, there never would have been an FTX.
EA created FTX
Link post
Found this reporting interesting. The entire financial operation was expressly set up by funding from top Effective Altruists. I think we previously saw EA as resembling a victim in this scenario, but I am curious how that understanding evolves at this moment as we learn more.