| Submit your comments on this article |
| -Lurid Crime Tales- |
| The Intercept Begs Readers for Donations after Multimillion-Dollar Sam Bankman-Fried Grant ‘on Hold' |
| 2022-11-20 |
| [Breitbart] The Intercept begged its readers for donations after the publication revealed that a multimillion-dollar grant from disgraced former FTX CEO Sam Bankman-Fried would be placed “on hold” due to FTX filing for bankruptcy. Bankman-Fried’s cryptocurrency exchange FTX plummeted from a $32 billion valuation to facing bankruptcy after his company was at the center of significant scandals in the cryptocurrency space last week. In addition to being a Democrat mega-donor, Bankman-Fried funneled millions of dollars to media outlets through one of his philanthropic entities, the Building a Stronger Future foundation. The Intercept is one of several media outlets that received a hefty donation from Bankman-Fried’s foundation. Bankman-Fried pledged $4 million to The Intercept over two years. So far, the outlet has received $500,000 out of the $4 million to support their reporting “on biosafety and pandemic prevention.” However, The Intercept’s Acting Editor-in-Chief, Roger Hodge, announced on Friday that future grant payments are “on hold,” and used the announcement to ask readers for donations. Hodge wrote: Much remains unknown about the future of FTX and SBF’s philanthropic giving. We have been in touch with our colleagues at other nonprofit newsrooms that received support from the Building a Stronger Future Foundation, and we remain hopeful that other donors committed to this work will step forward. It is unclear whether the outlet plans to keep or return the $500,000 it has already received from Bankman-Fried’s foundation. In the aftermath of FTX’s collapse, some celebrity endorsers, including Tom Brady, Gisele Bündchen, Larry David, David Ortiz, Steph Curry, and Shaquille O’Neal, along with Bankman-Fried, are being sued by cryptocurrency investors. FTX was “ultimately a Ponzi scheme, misleading customers and prospective customers with the false impression that any cryptocurrency assets held on the Deceptive FTX Platform were safe and were not being invested in unregistered securities,” the lawsuit alleges. The Intercept is not the only media outlet that received funding from Bankman-Fried’s Building a Stronger Future Foundation. ProPublica similarly received a $5 million grant from the foundation to support their reporting “on pandemic preparedness and biothreats,” receiving one-third of the grant earlier in the year with the remaining two-thirds disbursed over the next two years. However, ProPublica president Robin Sparkman also announced that their future grant payments would be “on hold.” Sparkman said Bankman-Fried’s foundation is “assessing its finances and, concurrently, talking to other funders about taking on some of its grant portfolio.” New media outlet Semafor, led by former New York Times columnist Ben Smith, also received an undisclosed investment from the Building a Stronger Future Foundation. Vox also received an undisclosed sum from the foundation. |
| Posted by:Skidmark |
| #3 There is always the opportunity to learn to code. |
| Posted by: Super Hose 2022-11-20 12:45 |
| #2 Irony: The University of California, Berkeley, lost big with FTX. |
| Posted by: Slavising Unineting5672 2022-11-20 08:00 |
| #1 "All your |
| Posted by: Procopius2k 2022-11-20 07:13 |