The Vanishing of SBF’s ‘Effective Altruism”

Listen to Bloomberg Crypto on the iHeartRadio App, Apple Podcasts or  Spotify. Sam Bankman-Fried used to say he was a man on a mission. That mission: giving away more than a billion dollars in the service of a movement known as “effective altruism." Through personal giving, and through a philanthropic unit called the FTX Foundation, Bankman-Fried appeared to support causes ranging from pandemic prevention to research into climate change. Fast forward a bit, and that message of “using wealth to empower people and projects that are doing the most to make positive, long-lasting change” - a marketing line from the FTX Foundation’s website - now rings hollow.  Bloomberg reporters Sophie Alexander and Laura Davison join this episode with the backstory on SBF and effective altruism. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.