The commission in charge of regulating registered charities in England and Wales has announced it had begun investigating Effective Ventures Foundation, an organization tied to bankrupt crypto exchange FTX.
In a Jan. 30 announcement, the Charity Commission said it had launched the inquiry due to FTX being a “significant funder” of Effective Ventures. According to the commission, Effective Ventures reported its ties to FTX as a “serious incident” potentially affecting other assets, opening the door for the regulator to investigate its trustees.