Crypto exchange FTX to deploy up to $1B from new philanthropic fund

Cryptocurrency exchange FTX on Monday launched a philanthropic fund with plans to deploy as at least $100M in 2022, according to a release. It has capacity to invest up to $1B. The so-called FTX Future Fund, which is part of the FTX Foundation and is primarily funded by FTX CEO Sam Brankman-Fried, invests in projects "in order to improve humanity’s long-term prospects," the company highlighted. "We're particularly keen to launch massively scalable projects: projects that could grow to productively spend tens or hundreds of millions of dollars per year." Specifically, some of the fund's areas of interest include the safe development of artificial intelligence, reducing biorisk, improving institutions, economic growth and more. Sam Brankman-Fried, a 29-year-old billionaire, personally donated $50M last year and plans to donate $500M next year, according to a video interview. On Monday, crypto donations to the Ukrainian government reached $22.2M.