Charity tied to former FTX exec made $150M from insider trading: Report By Cointelegraph
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Polaris (NYSE:) Ventures, a charity created by former FTX and Alameda chief of staff Ruairi Donnelly, reportedly wants to access roughly $150 million earned from insider trading on the bankrupt exchange’s tokens.
According to a Feb. 14 Wall Street Journal report, Donnelly received roughly $562,000 in salary during his time at FTX, which was converted into FTX Tokens (FTT) at a rate not yet available to the public — $0.05. The former executive reportedly ‘donated’ the tokens to Polaris Ventures, selling them in 2019 and 2020 after public trading opened at price of $1 and making millions.
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Polaris (NYSE:) Ventures, a charity created by former FTX and Alameda chief of staff Ruairi Donnelly, reportedly wants to access roughly $150 million earned from insider trading on the bankrupt exchange’s tokens.
According to a Feb. 14 Wall Street Journal report, Donnelly received roughly $562,000 in salary during his time at FTX, which was converted into FTX Tokens (FTT) at a rate not yet available to the public — $0.05. The former executive reportedly ‘donated’ the tokens to Polaris Ventures, selling them in 2019 and 2020 after public trading opened at price of $1 and making millions.
Continue Reading on Coin Telegraph
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