Billionaire Sam Bankman-Fried, CEO of FTX, one of the largest Bitcoin and altcoin derivatives exchanges, is willing to donate most of his wealth, according to a recent interview. Here are the details…
Sam Bankman-Fried, founder of the Bitcoin exchange, will donate
In a recent interview with Bloomberg, Sam Bankman-Fried said that he will donate at least $1 billion this year. . Bankman-Fried states that even taking a small chance to help future generations can be more valuable than relieving present suffering. It is even stated that Bankman-Fried has the idea of “purchasing coal mines” so that “it can both prevent emissions and keep the energy at hand to provide fuel when needed in a very bad scenario”.
As we have also reported as Cryptokoin.com, Bankman Fried, who is only 30 years old and known to live in Nassau, the capital of the Bahamas, “driving a Toyota”, stands out with his humble life. Fried expands on his thoughts on donation, stating that he wishes to set aside 1% of his earnings each year, or a minimum of $100,000 per year, for a comfortable lifestyle, but he wants to donate everything else. It is stated that this donation may contain Bitcoin or dollars.
FTX continues to expand
Meanwhile, new news continues to come from the FTX front. FTX’s European arm, FTX Europe, has appointed Marcel Lötscher as the company’s newly created head of regulatory strategy. Lötscher, who will take over this role on October 1, will join the company to continue FTX’s global expansion in Europe and the Middle East. Patrick Gruhn, head of FTX Europe, highlighted the different regulations in European countries. He said that in Germany, for example, crypto assets are considered a financial instrument, but in Austria and Switzerland they are treated like commodities.
Lötscher holds a PhD in collective investments and is a former head and board member of the securities and markets division of the Liechtenstein Financial Market Authority (FMA). “If all European countries had the same rules, it would make it easier for crypto firms to sell their products and be scalable at the end of the day,” Lötscher said.
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