Samuel Bankman-Fried, the founder and CEO of FTX is one of the most influential people in cryptocurrency. He recently testified before the US House Financial Services Committee about the future of digital asset industry, along with colleagues from Coinbase, Circle, Paxos, Bitfury, and Stellar.  Bankman-Fried whose parents are both Standford Law School professors, is a longtime follower of “effective altruism.” Altruism is the unselfish concern for other people and acting for their well-being. Those that believe in effective altruism try to make as much money as possible so that they can donate funds in a way that increases their impact. Bankman-Fried once donated $5million to the Joe Biden campaign believing that his money could serve the greatest good. You may not even have up to $1000 to donate but you can still make a difference in the lives of people you come across. Here are few reasons why you should also be a follower of effective altruism.

·       People who do good things for others have better overall health and regularly engaging in helping others have been linked to a significantly lower mortality.

·       Being altruistic can make you feel good about yourself and help you have better mental well-being

·       You also likely to have a better relationship with those around you when you are kind and compassionate.

·       Altruism will help you to develop the skill of emotional intelligence. Researchers have shown that there is a significant and positive association between the factors of emotional intelligence and altruistic-behavior

·       Altruism is a powerful tool for making the world a better place.

Reference:

Cherry K. 2021. What is altruism? www.verywellmind.com

Mandal M. B and Mehera C. 2017. Relationship between altruism and emotional intelligence among adolescent children of working and non-working mothers. International Journal of Education and Applied Social Science 8, 389-398

Wilser J. 2021. Most influential 2021: Sam Bankman-Fried. www.coindesk.com