Crypto whizzkid Sam Bankman-Fried has come a cropper. His $16 billion (£13 billion) fortune vanished overnight last week after FTX, the crypto exchange he founded, collapsed. What makes the tale of his rise and fall fascinating is that Bankman-Fried wasn’t in it for the money. Well, not in the normal way.
Bankman-Fried is (or was) the poster boy of the Effective Altruism (EA) movement: a group of rational philanthropists who use their time and money in the most efficient possible way.