Charity tied to former FTX exec made $150M from insider buying and selling: Report

Polaris (NYSE:) Ventures, a charity created by former FTX and Alameda chief of workers Ruairi Donnelly, reportedly desires to entry roughly $150 million earned from insider buying and selling on the bankrupt change’s tokens.

In response to a Feb. 14 Wall Avenue Journal report, Donnelly acquired roughly $562,000 in wage throughout his time at FTX, which was transformed into FTX Tokens (FTT) at a price not but obtainable to the general public — $0.05. The previous govt reportedly ‘donated’ the tokens to Polaris Ventures, promoting them in 2019 and 2020 after public buying and selling opened at worth of $1 and making hundreds of thousands.

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