Our goal with hosting quarterly open threads is to give blog readers an opportunity to publicly raise comments or questions about GiveWell or related topics (in the comments section below). As always, you’re also welcome to email us at info@givewell.org or to request a call with GiveWell staff if you have feedback or questions you’d prefer to discuss privately. We’ll try to respond promptly to questions or comments.
You can view previous open threads here.
Comments
After being scammed yourselves in April, and suffering the shame that SBF’s story has brought on EA in November, you are still accepting cryptocurrency donations. In my view you are doing PR for criminals through this.
I am contributing to this myself by donating to GiveWell and hate that. I would much prefer to donate to a charity not affiliated with cryptocurrencies.
Hi, Daniel,
Thank you for your continuing support of GiveWell. We appreciate your sharing these thoughts with us.
We understand that the collapse of FTX has caused some concern about cryptocurrency donations. Specifically, it has underscored the volatility of cryptocurrency markets, which is why we have a policy of always liquidating crypto donations into dollars as soon as possible after receiving them. This means that our funding is minimally exposed to market fluctuations, and these donations can be put to work quickly to support impactful programs.
We know that this may not mitigate all your concerns about our practice of accepting crypto. Please feel free to email us if you’d like to discuss further.
Best,
Miranda
Are you in a position to state whether GiveWell received any monies from FTX, Alameda, or any organizations/persons known to be affiliated with them? And if so, (1) how much; (2) whether it was unrestricted or designated for grantmaking and (3) what GiveWell’s plans are with respect to that money?
I’m sure no one at GiveWell knew, but the US Attorney has made it pretty clear that at least the bulk of FTX-aligned charitable contributions derived from stolen customer funds. And the FTX Foundation website still has a quote from GiveWell’s director of development expressing how GiveWell was “delighted to work with such an aligned partner.”
Hi, Jason,
The FTX Foundation granted $1.5 million to GiveWell to be distributed to cost-effective global health charities in February 2022. All of that funding was regranted to our recommended charities in May 2022—none was used for GiveWell operations (which are supported out of a different fund).
Given that the funds were regranted, we are not able to get that money back. However, if an appropriate avenue for returning the money to FTX customers is made available, we plan to restore the equivalent amount to those creditors out of our own operating funds. We’re standing by for further guidance on this.
Best,
Miranda
We can’t make transaction. Tell me how long we wait.
Dr.Rafiq
Hi, Dr. Rafiq,
If you need help completing a donation, please contact donations@givewell.org. Thank you, and sorry for the trouble!
Best,
Miranda
Would love to see some info on the crisis in Somalia. All I could find was info from a situation about 11 years ago (https://blog.givewell.org/2011/07/25/somalia-east-africa-famine-relief-donations/). I hope that the previous crisis helped build more confidence in making some recommendations the next time, but I’m still waiting for an update.
Thanks for your service.