The "Effective Altruism" movement is facing a major financial correction. Effective Ventures, the charity famously backed by FTX, has finalized the sale of its historic UK estate, Wytham Abbey, at a staggering £10.7 million ($14.5 million) loss.
🏰 The Failed Retreat
Originally purchased in April 2022 for £17 million, the 15th-century Oxfordshire manor was intended to be a global hub for educational events and workshops. However, the collapse of FTX and subsequent bankruptcy proceedings forced the charity to pivot.
After several price slashes—from an initial asking price of £15M down to £12M—the property was finally sold in late 2025 for just £5.95 million ($8 million).
🔍 Market Data & Strategic Shift
According to insights from NS3.AI, the steep discount was driven by a combination of "reductions in market sentiment" for luxury country estates and the urgency of the charity's liquidation process.
Key Financial Points:
Original Buy: £17M (2022)Final Sale: £5.95M (2025)Net Loss: £10.7MStatus: Settlement reached to repay $26.8M back to the FTX bankruptcy estate.
💡 What’s Next for Effective Ventures?
Despite the heavy loss, CEO Rob Gledhill stated that the proceeds will be allocated to high-impact causes as the organization prepares to conclude its UK operations. The charity aims to fully spin out its remaining projects into independent entities and shutter its UK doors by 2026.
📊 The Takeaway
This sale marks the end of an era for the "luxury" side of effective altruism. For the crypto community, it serves as a final reminder of the vast, non-digital assets acquired during the height of the 2022 bull market that are only now being fully liquidated.
What do you think? Was this manor a visionary idea or a symbol of bull market excess? Let’s hear your take in the comments! 👇
#FTX #CryptoNews #BinanceSquare #Write2Earn!