The managing counsel at Open Philanthropy has recently written the following as part of a comment on her post about the legal risks of clawbacks (https://forum.effectivealtruism.org/posts/o8B9kCkwteSqZg9zc/thoughts-on-legal-concerns-surrounding-the-ftx-situation?commentId=FKQpFSgzsknhTryud):
“There seems to be some confusion around the following sentence: “Essentially, if you received money from an FTX entity in the debtor group anytime on or after approximately August 11, 2022, the bankruptcy process will probably ask you, at some point, to pay all or part of that money back.”
Some clarifications:
FTX Foundation, Inc. (the nonprofit corporation) is not currently in the debtor group. At least some FTXFF grantees received their funding from this nonprofit corporation, so this sentence doesn’t apply to them (yet – it could be added later).
It’s worth checking what entity you received your funding from. We believe that some grantees received funding from Alameda Research, North Dimension or other entities that are in the debtor group…”
Based on the quote above, it sounds like there is some possibility that the FTX Foundation, Inc. could be added to the debtor group at some point in the future. My question is: how likely is it that this occurs by the time this market resolves?
This resolves to yes if, by the resolution date (June 27, 2025), FTX Foundation, Inc. is added to the list of entities in the debtor group as part of the FTX bankruptcy proceedings (and it resolves to no otherwise).
Related markets (though note that none of the existing markets focus specifically on grants received from FTX Foundation, Inc. - these markets are not specific about whether the funding came from FTX vs. FTX Foundation, Inc.):
https://manifold.markets/SpencerGreenberg/will-projects-which-received-grants
https://manifold.markets/EliezerYudkowsky/will-5-of-an-ftx-grant-be-clawed-ba
https://manifold.markets/NathanpmYoung/will-there-be-more-than-5-accounts
Nov 27, 11:47pm: Will "FTX Foundation, Inc." (i.e., the non-profit Future Fund entity) be added to the debtor group as part of the FTX bankruptcy proceedings? → Will "FTX Foundation, Inc." (i.e., the non-profit Future Fund entity) be added to the debtor group as part of the FTX bankruptcy proceedings?
Close date updated to 2023-06-27 6:59 pm
Close date updated to 2025-06-27 6:59 pm
