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How FTX’s collapse hurt the do-gooders that backed the business

How FTX’s collapse hurt the do-gooders that backed the business

Effective altruism was a key selling point for the failed crypto exchange. Now it must reassess its future without donations from Sam Bankman-Fried.

Nitasha Tiku

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When FTX founder Sam Bankman-Fried was a junior at the Massachusetts Institute of Technology, he met William MacAskill, one of the founders of effective altruism, a philosophical movement that believes rationality is key to doing maximum good in the world.

For more than a decade, the EA community, as it’s known, has attracted bright young students from elite universities – Oxford in the United Kingdom and Stanford in the United States, encouraging them to take lucrative jobs in finance and tech, so they can amass wealth and donate it to efficient charities.

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Washington Post

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Original URL: https://www.afr.com/link/follow-20180101-p5bzxo