The term, coined in 2011, refers to people who seek to use their money and time to make as much progress as possible toward solving the world’s most pressing problems.
In the Charitable Corporation Scandal, a group of politically connected directors leveraged the company’s altruistic image to attract investors – before raiding the funds to prop up other ventures.
FTX founder Sam Bankman-Fried, his on-and-off girlfriend, Caroline Ellison, and others involved in the company were reportedly in a polycule together.
Even though some traditional financial firms parked millions in the bankrupt company – once valued at $30 billion – the impact of FTX’s spectacular crash is limited to crypto investors
The founder of the now-defunct exchange for trading cryptocurrencies believed in ‘earning to give.’
Stand by for more drama in the days ahead.