Former FTX manager generated millions for his charity organization on FTT insider trade: Report

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Ruairi Donnelly, ehemaliger Stabschef der bankrotten Krypto-Börse FTX, nutzte Insider-Handelsinformationen von FTX-Token (FTT), um seine gemeinnützige Stiftung Polaris Ventures zu bereichern. Ein Großteil des Vermögens von Polaris stammte aus Donnellys anfänglicher Übertragung von FTT, nachdem er den Token vor seiner öffentlichen Notierung gekauft hatte, so das Wall Street Journal (WSJ). gemeldet Dienstag unter Berufung auf mit der Angelegenheit vertraute Personen. Polaris hat mit FTT Millionen von Dollar verdient Laut WSJ war Donnelly einer der ersten Mitarbeiter des Handelsunternehmens Alameda Research, bevor er 2019 Stabschef von FTX wurde. Während seiner Tätigkeit für beide Unternehmen war Donnelly Mitbegründer von Polaris, einer in …
Ruairi Donnelly, former head of the bankruptcy of the FTX crypto exchange, used insider trading information from FTX-token (FTT) to enrich his non-profit Foundation Polaris Ventures. The Wall Street Journal (WSJ), according to Wall Street Journal (WSJ), came from Donnelly's initial transmission of FTT after he bought the token before his public listing. Reported on Tuesday, citing the matter. With FTT millions of dollars, Polaris deserves, according to WSJ, Donnelly was one of the first employees of the retail company Alameda Research before becoming FTX chief of staff in 2019. During his work for both companies, Donnelly was a co -founder of Polaris, one in ... (Symbolbild/KNAT)

Ruairi Donnelly, former chief of staff of the bankruptcy chief crypto exchange FTX, used insider trade information from FTX-token (FTT) to enrich its non-profit Foundation Polaris Ventures.

A large part of Polaris' assets came from Donnelly's initial transfer of FTT after bought the token before his public listing, according to Wall Street Journal (WSJ). reported Tuesday citing the matter.

polaris has earned millions of dollars

According to WSJ, Donnelly was one of the first employees of the retailer Alameda Research before becoming FTX in 2019.

During his work for both companies, Donnelly was a co -founder of Polaris, a foundation based in Switzerland, which promoted research into effective altruism and artificial intelligence. When FTX was introduced, the Donnelly and other early employees offered a deal to buy the FTT tokens for $ 0.05 before they were acted publicly for $ 1.

Donnelly accepted the offer and asked FTX to exchange $ 562,000 of his salary for 11.2 million FTT tokens. At his request, FTX forwarded the tokens as a grant to Polaris. This was confirmed by the annual financial statements.

The assets of Polaris are fixed on the FTX

six months later, after FTT started public trade in 2020, the foundation earned millions of dollars by selling its stocks on the free market. Remarkably, Donnelly was still an employee at FTX.

later in the same year Donnelly from FTX and Alameda resigned to pay more attention to his work at Polaris. Finally, the foundation began to invest its new capital in companies for artificial intelligence, including anthropic.

ftx and its connected companies Submitted due to voluntary bankruptcy according to Chapter 11 in November, and millions of customer assets are frozen on the platform, including 20 % of the accumulated assets of Polaris.

Around $ 30 million of the $ 150 million Polaris assets are in FTX, while Donnelly is looking for an exit by selling the rights to the account for cent on the dollar.

Donnelly's lawyer says something else

In the meantime, Donny's lawyer Jason PW Halperin said that the initial FTT that was sent to the foundation did not belong to FTX because they were intended for his client's unpaid wages. He argued that Donnelly intended to donate part of his income to charity organizations when he started working for Alameda in 2017.

Halperin further revealed that one of Donnelly's colleagues at ftx and Alameda also donated FTT worth $ 30,000 to Polaris.

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