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Chicago Sun-Times

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Manny Ramos | Illinois Answers Project

UNBELIEVABLE: Ftx collapse leaves program to help formerly incarcerated chicagoans in jeopardy | History Defined

FTX Richard Wallace Crypto Chicago Lori Lightfoot Sam Bankman-Fried EAT FTX US

Sam Bankman-Fried, who was CEO of cryptocurrency giant FTX. (Alex Wong / Getty Images)

The future of a program aimed at helping formerly incarcerated Chicago residents hangs in the balance after the company that was supposed to pay for it, cryptocurrency giant FTX, has imploded amid accusations of fraud before paying most of its promised $1 million grant.

FTX’s participation was announced by Mayor Lori Lightfoot in May, when the cryptocurrency exchange moved its U.S. headquarters to Fulton Market.

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