That automatic revocation happened over a year ago but LBF continues to compel donors. The Lifeboat Foundation lost its tax-exempt status in May 2020. So, the IRS automatically revoked its tax-exempt status last year. Turns out, LBF failed to file the appropriate docs with the IRS for three consecutive years. So, it could be that most of the Bitcoin is still on exchanges, ready to convert into fiat for humanity.īut checking LBF’s 501(c)3 status - which certifies it as tax-exempt - shows LBF struggling to preserve its ability to accept deductible donations. LBF’s addresses have in total received 1,172.74 BTC ($43.9 million). Protos analyzed LBF’s 13 Bitcoin addresses and found vastly different figures than those listed on LBF’s website. Most of the fund is Bitcoin purportedly kept in 13 different addresses across five wallets (546.9 BTC in total), but also 190 ETH ($480,000). LBF says it has raised $16 million worth of crypto. The fund has accepted a raft of shitcoins over the years, including long-gone projects like CryptogenicBullion and Noblecoin. LBF discloses the cryptocurrency kept in the endowment fund on its website. In Bitcoin’s formative years, LBF launched what it called the “world’s first Bitcoin Endowment Fund.” The Lifeboat Foundation’s website has a certain vibe about it. Ultimately, all that seems to have paid off. Ron Hubbard book cover meets Heaven’s Gate video - incredibly mid-90’s aesthetic but with an eager and sad desperation. The org’s intentions may be great, but the website itself resembles an L. LBF says it wants to help preserve humanity by raising funds for projects it deems worthy. Just some of the crypto figures on the Lifeboat Foundation’s advisory board. “I want to help… secure future in which people… have opportunities for fulfilling productive lives,” said one.Īnother gave a foreboding quote: “A self-replicating pathogen, whether biological or nanotechnology based, could destroy our civilization in a matter of days or weeks.” Noted reasons for donating range from earnest to just weird. LBF’s disclosed number one fiat donor is even an early Bitcoin adopter with an interest in sea-steading named Brian Cartmell. The Lifeboat Foundation has been “recruiting Bitcoin talent from around the planet.” Indeed, many of LBF’s top donors are renowned and well-known industry leaders, although most joined years ago. Willett, and other prominent technologists. Named figures include the deceased child trafficker Jeffrey Epstein, Ethereum co-founder Vitalik Buterin, Cardano founder Charles Hoskinson, Tether founder J.R. One has to fall down numerous precarious rabbit holes to ever wind up on LBF’s homepage.īut once there, you’ll find a heady mix of cryonics supporters, life extension advocates, libertarians, scientists, and blockchainers dotting LBF’s long list of advisors. The Lifeboat Foundation says it has some of the “best minds on the planet” to enable our survival. Klien currently resides in Nevada, where LBF is headquartered. According to LBF, Klien amassed his fortune trading stocks in the 1990s and by cashing out a stake in the 2000s. LBF emerged in 2002 through current president Eric Klien. Bitcoin-loving nonprofit The Lifeboat Foundation (LBF) says it’s “helping humanity survive existential risks” as we approach the Singularity - but it appears on track for its own crisis: the Internal Revenue Service (IRS).
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