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FTX Partners With Udonis Foundation to Provide $50,000 Grants to Two Small Scale Businesses

FTX has announced a program to assist minority-owned businesses that have been impacted by the COVID pandemic and recent economic conditions, as part of its relationship with the Udonis Haslem Foundation. The assistance will be provided in the form of a $50,000 grant to two small businesses owned by women or members of minority groups. This partnership was established in honor of Udonis Haslem, a three-time NBA champion and former player for the Miami Heat. Its goal is to assist local businesses in making investments for their long-term success.

For a business to be eligible for the grant, it must have been in operation for at least one year and have estimated annual revenue of $1 million. In addition, the company must be owned by a woman or a person of color, have less than 500 employees, be in the retail or hospitality industries, and be open to incorporating cryptocurrency payment methods into its business model. The grant recipients must also incorporate an FTX badge into their company’s website design and integrate FTX Pay into their e-commerce platform.

FTX and charity

This isn’t the first time FTX has gotten involved in a charitable endeavor. Last year, the cryptocurrency exchange company launched FTX Climate as part of its efforts to battle climate change. Aside from its carbon neutral and carbon removal goals, FTX Climate donated approximately $500,000 to three groups focusing on climate change research and policy activities. 

   

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