> Blog > How Cryptocurrency Can Support Effective Altruism

Published June 23, 2022

Reading time 2min


Cryptocurrency promotes a more inclusive, fair, and open financial ecosystem that encourages innovation and new solutions to old problems. Though the world’s economic system has grown more robust and influential than ever before, there are still inefficiencies in today’s monetary system that cause a lot of strife for individuals across the globe. Cryptocurrency seeks to address these inefficiencies and usher in a new era of global finance that brings more positive impact into the world.

Exchanges like FTX donate 1% of all net fees to the world’s most effective charities and their founder and CEO, Sam Bankman-Fried is a supporter of the Effective Altruism movement. . 

But what is effective altruism, and what does cryptocurrency have to do with it?

What is Effective Altruism?

Effective altruism is a philosophical and social movement that advocates using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis. 

Effective altruism isn’t trying to solve any specific problem in the world, but rather it is about using your resources and tools to contribute to a positive global impact in the most effective way possible. Effective altruism ensures humanity flourishes far into the future, enjoying fulfilling lives free of suffering.

Examples of effective altruism that we see today are people choosing to work in a higher paying career or job then donating to charity to create impact, versus say actually going to do the charity work themselves where the impact may not be as significant. 

Take FTX CEO Sam Bankman-Fried, who served on the board for Effective Altruism for a few months, but soon realized he could make a much greater impact by earning money trading crypto, then donating the profits to charities instead.

How FTX is Adopting Principles for Effective Altruism

FTX has pledged to donate 1% of all profits to fund the world’s most effective charities.   

FTX is using its platform to drive change both economically and socially by using profits made to finance charities that enable the betterment of humanity’s future. Whether that’s through climate change mitigation, global poverty alleviation, or even biosecurity research, FTX keeps the effective altruism values at the forefront of its decision making.

FTT DAO and Effective Altruism

If you want to join FTX’s effective altruism and support their endeavor, the FTT DAO offers an inclusive community of FTX fans seeking to follow in the footsteps of FTX’s values. Our mission and vision is to foster a global community of FTX fans who are excited about the future of cryptocurrency and its potential to change the world.

FTT DAO is a proud community of BFFs — Bankman-Fried Friends, Followers and Fans. We are active and passionate community builders who advocate for FTX’s growth. Become a BFF today!

Join the FTT DAO Discord to get involved or learn about FTXToken (FTT) and its utility on www.ftx.com/ftt.  .




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