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Comment by y0ssar1an | Hacker News Reader

textbook greenwashing. if they want to make the world a better place, shut down FTX and stop enabling the insane, planet incinerating, fraud enabling, money laundering, rogue regime financing, fake tech breakthrough called "crypto". crypto companies like FTX should be viewed with the same disdain as Big Oil and Big Tobacco. this is like investing with ExxonMobil to stop climate change. don't fall for it.

https://corporate.exxonmobil.com/Sustainability/Environmenta...

https://www.bbc.com/news/world-asia-60281129

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I would add the fact that the company is based in Antigua. So the overall picture is a very profitable company, in a domain which, as of now, mostly enables fraud at an insane energy cost, based in a tax haven. But somehow, this is for the greater good. With the challenges ahead, we, all of us, will have to decrease our consumption of most if not all resources. This can not be achieved by just pouring money from the penthouse of a skyscraper of a capital city.

Mostly True: "planet incinerating, fraud enabling, money laundering, rogue regime financing"

Totally False: "fake tech breakthrough called "crypto""

It's hard to look at this founder and say he isn't extremely well intentioned.

For a very young guy in this scene you'd expect expensive watches and cars, but instead he drives a budget car, is giving away a great majority of his wealth, and seems to truly care.

The reason he's keeping FTX open is to earn more money to give away to environmental, socioeconomic, and health organizations and research. His track record speaks for itself.

> The reason he's keeping FTX open is to earn more money to give away to environmental, socioeconomic, and health organizations and research.

There is no way you posted that with a straight face.

It's worth giving this a read [0].

[0] https://80000hours.org/stories/sam-bankman-fried/

If telling people you were going to do something was actually doing it, we wouldn't need contracts

And he's actually doing it, so what's your point?

How do you know? Has he shown you his bank statements?

The information you're looking for is accessible. I don't argue with people who say Bill Gates doesn't donate much money, either.

I haven't seen Bill's bank statements, but I believe he does donate for the same reasons I believe Sam does.

Because the Gates Foundation publishes its returns? https://www.gatesfoundation.org/about/financials

-_-

Sam's primary motivation to generate money is to fund Effective Altruism.

> planet incinerating

FTX pushes Solana, a PoS coin, very hard. Blockchain doesn’t need to use PoW.

Solana has other issues around scalability, reliability, and decentralization, but it isn’t “planet incinerating”.

Here's how FTX deals with climate: https://www.ftx-climate.com/

Is your stance on the environment what led you to leave the auto industry?

Very little on the site has to do with environmentalism.

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