FTX members allegedly deliberate to buy a small island nation in case of catastrophe, based on 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 of shopping for an 8.1 sq. mile microstate known as Nauru and setting up 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 response to the quoted memo, Nauru would even be used to construct a laboratory and create “smart regulation” for human genetic enhancement. The memo acknowledged 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 by way of which FTX, now below new management, goals to recuperate funds from former firm members.
FTX’s charity arm, the FTX Basis, would have been chargeable 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 “often 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 operate, a time period used to explain how AI techniques may 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 presently set to be a star witness in Sam Bankman-Fried’s pending legal trial.
FTX’s new management alleges that previous members had “just about limitless energy” to switch fiat and crypto and stated members put their very own pursuits above firm pursuits. Leaders now search the return of funds, both straight or as damages.
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