By KHRISNA RUSSELL
Tribune Chief Reporter
krussell@tribunemedia.net
LEND A Hand Bahamas has said the implosion and fall of FTX, the Bahamas-based crypto currency exchange, will not affect its plans to continue community outreach.
In March, FTX reportedly donated $500,000 to the charity and also committed to match donations made to Lend A Hand Bahamas through 2022 up to a further $500,000.
The money was earmarked to assist Lend A Hand in completing its new Over-the-Hill Community Centre.
The sizeable donation also meant that the centre would be named the FTX Community Centre, according to previous reports.
Before that, the company partnered with Lend A Hand to disburse 1,000 toys to children in the Grant’s Town, Bain Town, and Centreville communities.
With the implosion of FTX, questions have risen as to whether local charities that were touched by the firm’s philanthropic arm could be impacted as part of the international fallout.
The question of whether this created obvious concerns was put to the charity.
However, the charity’s founder Lucas Metropulos said there were no concerns.
“The FTX situation has not negatively affected our efforts at all. Our new centre will begin construction in the early new year,” he said in brief comments to The Tribune.
Animal rescue group BAARK was also fortunate to benefit from FTX’s generosity, confirming to this newspaper that it received $100,000 that was pledged to them from the crypto exchange.
The funds aided the operations of BAARK’s mobile spay and neuter clinic.
However, the charity declined to comment about further concerns.
Hands for Hunger, another beneficiary of FTX donations, did not respond to repeated calls about it receiving FTX funds.
Meanwhile, in some circles, it has also been asked whether any of the country’s major political parties got donations from FTX.
Yesterday, Free National Movement Chairman Dr Duane Sands said he was unaware of any donations to the party, adding: “Certainly none made since I was chairman.”
Asked if the governing Progressive Liberal Party received any donations from FTX, its chairman Fred Mitchell responded: “Nope.”
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