FTX to launch a $1 billion environmental fund to prevent a future pandemic

At the Crypto Bahamas 2022 conference, FTX, the cryptocurrency exchange, announced plans to create a $1 billion charitable environmental fund. Forbes reports.

“It is crucial that as the industry grows we remember energy efficiency. We can achieve this by migrating the majority of transactions to blockchains that do not harm the environment,” Bankman-Fried said.

According to him, FTX monitors its climate impact and is considering ways to become carbon-neutral. Bankman-Fried named the prevention of a future pandemic as the fund’s top priority, Decrypt reports.

The initiative will be led by partner and advisor Brazilian supermodel Gisele Bündchen, who has participated in United Nations charitable environmental programs.

In March 2022, Bankman-Fried described Ukraine aid in cryptocurrency as a “lifesaver” from the world. The head of FTX saw in this an illustration of expanding financial opportunities.

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