What crypto’s collapse means for effective altruism and long-termism

Demise of FTX a big blow to the charitable philosophy aiming to make the world a better place through the pursuit of wealth

Sam Bankman-Fried, founder and former chief executive of FTX
Sam Bankman-Fried said he wanted to donate 99% of his wealth
(Image credit: Jeenah Moon/Bloomberg via Getty Images)

The collapse of FTX, the Bahamas-based cryptocurrency exchange founded by Sam Bankman-Fried, has caused more than just misery for investors and the implosion of the crypto industry.

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Arion McNicoll is a freelance writer at The Week Digital and was previously the UK website’s editor. He has also held senior editorial roles at CNN, The Times and The Sunday Times. Along with his writing work, he co-hosts “Today in History with The Retrospectors”, Rethink Audio’s flagship daily podcast, and is a regular panellist (and occasional stand-in host) on “The Week Unwrapped”. He is also a judge for The Publisher Podcast Awards.