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News Explorer — Effective Ventures Charity Acted Diligently and Quickly to Protect Funds After FTX Collapse: UK Investigation

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May 22, 1:26 pm

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Effective Ventures Charity Acted Diligently and Quickly to Protect Funds After FTX Collapse: UK Investigation

A UK government inquiry into the FTX-backed charity, Effective Ventures Foundation (EV), found that its trustees acted diligently and quickly to protect the charity's funds after FTX's collapse. The trustees ringfenced the FTX funding and reported it to the National Crime Agency to avoid money laundering offenses. The inquiry also revealed that the FTX-linked trustees were excluded from decisions and discussions related to the FTX bankruptcy.

A UK government inquiry into the FTX-backed charity, Effective Ventures Foundation (EV), found that its trustees acted diligently and quickly to protect the charity's funds after FTX's collapse. The trustees ringfenced the FTX funding and reported it to the National Crime Agency to avoid money laundering offenses. The inquiry also revealed that the FTX-linked trustees were excluded from decisions and discussions related to the FTX bankruptcy.

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