The team behind FTX Future Fund, a project of the FTX Foundation, resigned on Thursday in an open letter, posted to Twitter by journalist Teddy Schleifer.
While expressing concerns over the affected customers at FTX, the team decided to resign, the team said in its recent blog post.
At present there were several committed grants that the team would not be able to honor, the team wrote in its open letter.
FTX Future Fund had provided aid for a plethora of projects including initiatives in the AI as well as the biosecurity industries.
The crypto exchange intended to pour $1 billion into the Future Fund with about $100 million every year.
The infamous collapse of FTX instigated the downfall of the entire market and firms like BlockFi decided to impose a pause on withdrawals.
After the resignation of FTX’s legal as well as compliance team, the community speculates more resignations in the coming days in the wake of downfall.