The implosion of the cryptocurrency exchange FTX has revealed disturbing and questionable initiatives undertaken by its nonprofit division, the FTX Foundation.
What Happened: A newly filed lawsuit against disgraced FTX founder and former CEO, Sam Bankman-Fried, exposes some of these unsettling schemes.
One particularly eyebrow-raising memo uncovered in the lawsuit reveals discussions between Bankman-Fried and his brother about purchasing the Micronesian island nation of Nauru to construct a bunker.
The purpose of this elaborate plan was to have a secure location in the event of a catastrophic event reducing the global population by “50 to 99.99%” and repopulating the Earth thereafter.
This plot is reminiscent of the movie “Avengers: Infinity War,” where the fictional villain Thanos sought to wipe out 50% of the universe’s population in his quest for ultimate balance. This notion of a catastrophic event drastically reduces population numbers.
Additionally, the memo references using the island as a laboratory for developing sensible regulations surrounding human genetic enhancement.
See Also: From Crisis To Comeback: FTX’s Collapse And The Road To Redemption
Why It Matters: Despite claims that the FTX Foundation aimed to serve a greater purpose, the lawsuit suggests that its primary function was to improve the public image of the defendants.
The foundation distributed grants for various projects, including funding of $300,000 for a book exploring ways to ascertain “humans’ utility functions.”
Furthermore, a substantial sum of $400,000 was allocated for the creation of animated YouTube videos explaining the concept of effective altruism, featuring topics such as “grabby aliens.”
Bankman-Fried, who faces charges of fraud, has maintained his plea of not guilty and is presently awaiting trial, scheduled for later this year.
Price Action: At the time of writing, Bitcoin BTC/USD was trading at $29,774, down 0.24% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin See Uptick Ahead Of Fed Policy Meet: Analyst Sees Big Sell-Off For Altcoins, But Says This Crypto Could Be Exception
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