Share this article
FTX Token DAO Raises $7M From Community of Sam Bankman-Fried Fans
The money is destined for a fund that will contribute to community-led projects across DeFi and crypto education.
Updated May 11, 2023, 5:36 p.m. Published Jun 27, 2022, 1:45 p.m.
A community dedicated to FTT, the native token of cryptocurrency exchange FTX, has raised $7 million (250,000 FTT), which will be converted into an ecosystem fund, according to a press release.
- The fund will contribute to community-led projects across decentralized finance (DeFi) and crypto education.
- The FTT DAO, a decentralized autonomous organization, is independent of FTX and states on its website that it believes in "effective altruism," a phrase it attributes to the exchange's CEO, Sam Bankman-Fried.
- "I'm aware of FTT DAO, and it's cool that the community is spontaneously coming together," Bankman-Fried said in the statement.
- Bankman-Fried founded the FTX Foundation, a charitable organization, and has signed the Giving Pledge, a commitment taken by some of the world’s richest people to give away the majority of their wealth to philanthropy in either their lifetimes or their wills.
- In the statement, the DAO said its members are "Bankman-Fried fans/followers/friends. We share the same values as SBF (Sam Bankman-Fried) and support his mission to give back to society in order to make a positive impact on our world."
- The FTT token was issued in 2019 as a cryptocurrency that gave FTX users discounted fees, increased affiliate revenue and access to initial exchange offerings (IEOs).
- FTT was recently trading at $27.64, down 2.4% over the past 24 hours.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DAWN raises $13M to expand decentralized broadband networks
The decentralized wireless protocol plans U.S. expansion and new international deployments as investors back a user-owned alternative to legacy internet providers.
What to know:
- DAWN raised $13 million in a Series B led by Polychain Capital.
- The protocol enables individuals and organizations to own and monetize wireless broadband infrastructure.
- New funding will support U.S. growth and international rollouts.
Top Stories
