BlocksInform
The Charitable Commission for England and Wales probes the foundation of efficient enterprises, a charitable organization supported by sam bankman-fried, founder of the cryptoftx exchange bankruptcy.
The scope of the risk to the charity's assets and whether the trustees are complying with their asset protection obligations will be investigated.
The charity declared that the bankruptcy of ftx was a "serious incident" due to the large funds it had received from the philanthropic arm of the fellowship.
"There is no indication of wrongdoing by the trustees at this time," the Commission said on Monday. "however, there are potential risk indices for the charitable organization's assets, and the investigation was initiated to establish the facts and ensure that the trustees protect the charity's property and direct it in accordance with their functions and responsibilities."
The Commission further stated that the trustees are cooperating fully and that it could broaden the scope of its investigation should other regulatory matters arise.
