FTX members allegedly deliberate to buy a small island nation in case of catastrophe, in line with a July 20 submitting within the firm’s chapter case.
Case textual content exhibits that an unidentified FTX officer communicated with Gabriel Bankman-Fried — the brother of former FTX CEO Sam Bankman-Fried — the opportunity of shopping for an 8.1 sq. mile microstate known as Nauru and establishing 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 the vast majority of efficient altruists — a social motion that Sam and Gabriel Bankman-Fried and others have been concerned with.
In keeping with 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 via which FTX, now beneath 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 “ceaselessly misguided and generally 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 could 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 lively sufficient to be found.
The submitting in any other case particulars different questionable spending beforehand reported, together with luxurious rental funds and political and charitable donations. It additionally mentions self-awarded bonuses by Alameda Analysis CEO Caroline Ellison, who’s at present set to be a star witness in Sam Bankman-Fried’s pending prison trial.
FTX’s new management alleges that previous members had “just about limitless energy” to switch fiat and crypto and mentioned members put their very own pursuits above firm pursuits. Leaders now search the return of funds, both immediately or as damages.
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