FTX members allegedly deliberate to buy a small island nation in case of catastrophe, in line with a July 20 submitting within the firm’s chapter case.
Case textual content reveals that an unidentified FTX officer communicated with Gabriel Bankman-Fried — the brother of former FTX CEO Sam Bankman-Fried — the potential for shopping for an 8.1 sq. mile microstate known as Nauru and establishing a bunker there.
Particularly, a memo between the 2 people described constructing a “bunker / shelter” in case of an occasion that kills 50% to 99.99% of the human inhabitants. The bunker was supposed to make sure the survival of nearly all of efficient altruists — a social motion that Sam and Gabriel Bankman-Fried and others had been concerned with.
In accordance with the quoted memo, Nauru would even be used to construct a laboratory and create “wise regulation” for human genetic enhancement. The memo said that there are “different issues it’s helpful to do with a sovereign nation, too.”
FTX desires former members to return funds
The above plans are talked about inside a broader motion via which FTX, now underneath new management, goals to get well funds from former firm members.
FTX’s charity arm, the FTX Basis, would have been liable for the Nauru plan, and as such, leaders raised it as proof of the Basis’s lack of legitimacy.
Present management in any other case described the FTX Basis’s plans as “steadily misguided and typically dystopian” and drew consideration to its different spending.
The FTX Basis notably paid $300,000 for a e-book on human utility perform, a time period used to explain how AI methods will be aligned with human values. It paid a $400,000 grant to a YouTube channel that posted movies on matters together with “grabby” aliens — that’s, alien civilizations theoretically energetic sufficient to be found.
The submitting in any other case particulars different questionable spending beforehand reported, together with luxurious condominium funds and political and charitable donations. It additionally mentions self-awarded bonuses by Alameda Analysis CEO Caroline Ellison, who’s at present set to be a star witness in Sam Bankman-Fried’s pending felony trial.
FTX’s new management alleges that previous members had “just about limitless energy” to switch fiat and crypto and mentioned members put their very own pursuits above firm pursuits. Leaders now search the return of funds, both immediately or as damages.
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