BERI Returns All FTX Funds

We are happy to announce that as of January 31, 2024 BERI has returned funds received from the FTX Foundation (also referred to as the FTX Future Fund) in the amount of $389,745.

BERI received the following grants from the FTX Foundation, each for a specific project:

• $100,000 on April 7, 2022,

• $55,000 on May 18, 2022,

• $130,000 on September 22, 2022, and

• $98,000 on October 18, 2022.

The returned fees equaled the $393,000 less legal fees incurred in preparing the settlement.

In discussion with the lawyers involved, FTX was open to a settlement for significantly less than the full amount donated. However, we chose to return the full amount granted to ensure that BERI does not benefit from theft or fraud in any way.

We’re excited to put this situation firmly behind us and to continue working towards our 2024 goal of further diversifying our funding base.