The Charity Commission has announced an inquiry into Effective Ventures Foundation in the UK following the collapse of FTX. We understand the Commission’s desire to exercise extra scrutiny, especially given the scale and profile of the FTX situation, and we will be cooperating fully.
The trustees have carefully assessed the financial situation and the charity is not reliant on the FTX-related funds for its future operations.
We have kept the Commission informed of our actions throughout the process and note that the Commission has confirmed that we complied with our duties in making a serious incident report.
We are pleased that the Commission has found our interactions thus far to be fully cooperative and we plan for that to continue.
— Howie Lempel, Interim CEO of Effective Ventures Foundation UK