According to lawsuit document, the nonprofit arm of FTX, known as the FTX Foundation, was allegedly planning to buy the small island nation of Nauru. The lawsuit further claimed that a memo between a foundation officer and Gabriel Bankman-Fried, the brother of FTX’s CEO, outlined the details of this intention.
The lawsuit revealed that the island’s purpose was to serve as a refuge for members of the effective altruism movement. This was adhering to the philosophy publicly supported by SBF. The memo also mentioned other potential uses for a sovereign country in the event that half or more of the global population faced extinction.
Additionally, the memo mentioned a plan for" sensible regulation around human genetic enhancement, and build a lab there."
Related: FTX Sues Ex-Execs Including SBF to Recover Over $1B Misappropriated Funds
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