{"id":73290,"date":"2023-01-30T19:19:29","date_gmt":"2023-01-30T17:19:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73290"},"modified":"2025-09-09T13:20:00","modified_gmt":"2025-09-09T10:20:00","slug":"uk-regulator-to-investigate-effective-ventures-foundation-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uk-regulator-to-investigate-effective-ventures-foundation-after-ftx-collapse\/","title":{"rendered":"UK regulator to investigate Effective Ventures Foundation after FTX collapse"},"content":{"rendered":"<p>The Charity Commission for England and Wales has initiated an investigation into the Effective Ventures Foundation. The organisation was supported by the FTX Foundation, <a href=\"https:\/\/www.gov.uk\/government\/news\/regulator-investigates-charity-linked-to-failed-cryptocurrency-platform\">\u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f<\/a> in a press release.<\/p>\n<p>According to the release, there are currently &#8220;no signs of wrongdoing [&#8230;], but there are signs of potential risks to the charity&#8217;s assets&#8221;. During the investigation the Commission will examine:<\/p>\n<ul class=\"wp-block-list\">\n<li>the extent of any risk to the Foundation&#8217;s funds;<\/li>\n<li>whether trustees have complied with duties to safeguard the Foundation&#8217;s assets;<\/li>\n<li>governance and administration of the charity, including the relationship between trustees and donors, and potential conflicts of interest.<\/li>\n<\/ul>\n<p>The collapse of Sam Bankman-Fried&#8217;s exchange was described by the Commission as a &#8216;serious incident&#8217; due to the substantial sums of funds received by Effective Ventures from the platform&#8217;s charitable arm.<\/p>\n<p>On November 11, 2022, the FTX Group <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">filed for bankruptcy<\/a> under Chapter 11 of the U.S. Bankruptcy Code. Bankman-Fried stepped down as CEO, later <a href=\"https:\/\/u1f987.com\/en\/news\/us-court-unveils-charges-against-sam-bankman-fried\">they charged him<\/a> with eight criminal counts. The founder of the exchange <a href=\"https:\/\/u1f987.com\/en\/news\/sam-bankman-fried-refuses-to-plead-guilty-trial-set-for-october\">pleaded not guilty<\/a>.<\/p>\n<p>On December 23, he was released on a <a href=\"https:\/\/u1f987.com\/en\/news\/court-grants-250m-bail-for-sam-bankman-fried\">bail of $250 million<\/a>. In January 2023, the U.S. Department of Justice <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-authorities-seize-robinhood-shares-in-bankman-fried-case\">froze 55,273,469 Robinhood shares<\/a> as part of the case against Bankman-Fried.<\/p>\n<p>As reported, the Australian Securities and Investments Commission <a href=\"https:\/\/u1f987.com\/en\/news\/australian-regulator-voiced-concerns-about-ftx-six-months-before-its-collapse\">had concerns about<\/a> the operations of the local FTX unit and had been watching the company closely long before its collapse.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Charity Commission for England and Wales has initiated an investigation into the Effective Ventures Foundation. The organisation was supported by the FTX Foundation, according to a press release.<\/p>\n","protected":false},"author":1,"featured_media":73291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[306,1236,810],"class_list":["post-73290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-charity","tag-ftx","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73290"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73290\/revisions"}],"predecessor-version":[{"id":73292,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73290\/revisions\/73292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73291"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}