The fallout from the FTX collapse to reverberate. The commission regulating registered charities in England and Wales has begun investigating a charity linked to SBF's failed enterprise.
The commission in charge of regulating registered charities in England and Wales has announced it had begun investigating Effective Ventures Foundation, an organization tied to bankrupt crypto exchange FTX.it had launched the inquiry due to FTX being a “significant funder” of Effective Ventures. According to the commission, Effective Ventures reported its ties to FTX as a “serious incident” potentially affecting other assets, opening the door for the regulator to investigate its trustees.
“There is no indication of wrongdoing by the trustees at this time,” said the commission. “However, there are indications of potential risks to the charity’s assets, and the inquiry has been opened to establish facts and help ensure the trustees protect the charity’s assets and are running the charity in line with their duties and responsibilities.”
We’ve opened an inquiry into Effective Ventures Foundation following the bankruptcy of a significant funder.
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