U.K launch probe into Sam Bankman-Fried-backed charity

A charity backed by Sam Bankman-Fried, the disgraced founder of the defunct crypto exchange FTX, is under a probe by the Charity Commission for England and Wales.

The charity commission is investigating the extent of the risk to the charity’s assets and whether the trustees are complying with their duties around the protection of said assets.

The charity had received significant funds from FTX’s philanthropic arm.

The Commission added that the trustees are cooperating fully and that it may extend the scope of its inquiry should further regulatory issues emerge.

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