FTX ecosystem's FTT DAO has received 250,000 worth approximately $7 million in FTT tokens via community donations to help kick start its activities.
<h2>Plans to Support Upcoming Community-Led Projects</h2>
According to a <a href="https://www.asiaone.com/business/ftt-dao-raises-7-million-donated-ftx-token-fans" target="_blank" rel="nofollow noopener">press release</a> from today, a number of community contributors participated in the donation 'to help grow FTT DAO.' With the latest donation of $7 million, FTT DAO plans to support upcoming community-led projects across crypto education, DeFi, and effective altruism for the FTT community.

Commenting on the development, contributor 0xMarcJ, said:
<blockquote><em>"As an independent, community-led DAO, fans of FTX and Sam Bankman-Fried are encouraged to follow and get involved as a BFF, a Bankman-Fried Fan, Friend or Follower. There are limitless opportunities for FTT DAO right now, those interested also have the option to apply for a grant for an idea or project they have in mind."</em></blockquote>
Some specific portions of the donation are also kept aside for FTT-related NFT projects and further building the FTT global community and utility.
<h2 class="post__title">FTX May Purchase a Stake in BlockFi</h2>
Crypto exchange FTX is reportedly in talks to acquire a stake in <a href="https://www.cryptoknowmics.com/news/after-ftxs-bailout-blockfi-raised-rates-three-days-later/" target="_blank" rel="noopener">BlockFi</a> after the company issued a $250 million credit to the lending firm.

Meanwhile, FTX founder and CEO <a href="https://www.cryptoknowmics.com/news/sam-bankman-fried-is-the-sole-largest-shareholder-of-voyager-digital/" target="_blank" rel="noopener">Sam Bankman-Fried</a> (SBF) has helped support many crypto projects in recent weeks amid a bear market forcing a lot of companies to take cost-cutting measures. Last week, trading firm Alameda Research under SBF announced it had loaned 15,000 Bitcoin (BTC) to Voyager Digital to cover losses from its exposure to <a href="https://www.threearrowscap.com/" target="_blank" rel="nofollow noopener">Three Arrows Capital</a>.

FTT DAO Secures $7M in Community Donations to Kick-Start its Activities

FTX ecosystem’s FTT DAO has received 250,000 worth approximately $7 million in FTT tokens via community donations to help kick start its activities.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

FTT DAO Secures $7M in Community Donations to Kick-Start its Activities

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