After condemning the behavior of the exchange, the team behind the FTX Future Fund, a project of the FTX Foundation, has now been fired.

The team noted in a post on the Effective Altruism Forum:

“We were shocked and immensely saddened to learn of the recent events at FTX. We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that the FTX Foundation and the Future Fund funded. As a result, we resigned.”

Funded primarily by Sam Bankman-Fried, the FTX Future Fund was launched in February 2022 to boost humanity’s long-term prospects. The project planned to distribute at least $100 million and up to $1 billion this year.

According to the team, while they are still unclear on what happened, they will follow up on the news as it develops. The team added condemning the behavior of the exchange leadership:

“But to the extent that FTX leadership may have engaged in deceit or dishonesty, we condemn such behavior in the strongest possible terms. We believe that being a good actor in the world means striving to act with honesty and integrity.”

At the end of the note, the team indicated that there are many committed grants that the Future Fund will not be able to meet because they are no longer working on the project. Speaking of the foundation, last month the Luna Foundation Guard (LFG), an organization that supports the Terra ecosystem, revealed that its efforts to compensate Terra holders remain futile due to ongoing litigation.

“Our objective is to distribute the remaining assets of LFG to those affected by the depeg, the smallest holders first. Unfortunately, due to ongoing litigation and threats, distribution is not possible at this time. While these matters are pending, no timetable can be set for their resolution,” LFG noted in a tweet.

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