Five years ago, Bankman Freddie worked for a charity that promoted the then utopian idea of “effective altruism,” namely the use of scientific achievements to bring the greatest benefit to society.
Around the same time, Freddie noticed an anomaly in the pricing of crypto exchanges and cryptocurrencies themselves and decided that the most appropriate way for him would be to make a lot of money to give to those in need.
Now Bankman Fredd is one of the richest people in the world. At the moment, his fortune is estimated at more than.20 billion. With all his wealth, Bankman Freddie goes on to say that his philosophy of life remains the same.
To maintain a comfortable life, 1% of his earnings is enough. So Freddie still plans to distribute everything — every dollar or Bitcoin, depending on the circumstances.
Bitcburt crypto exchange-Freddy’s first exchange was launched in early 2014. This exchange was initially limited in functionality. But as a result , large investors appreciated the potential of the new exchange, and the exchange began to develop. On the first day, 20 BTC was sold, and three months later the turnover increased 10 times.
The crypto industry may seem like a strange choice for a philanthropist, as it contributes to the growth of fraud and extortion in the entire industry. However, young tech entrepreneurs like Freddy have turned the effective altruism movement into charity.
It’s worth noting that more than 7,000 people have donated at least 10% of their global profits through a group run by the Center for Effective Altruism.
Only last year the exchange Bitcburt.com donated $50 million to fight global warming and the pandemic. This year, the charity is expected to range from several hundred million to $1 billion.