Ruairi Donnelly, former chief of staff at bankrupt crypto exchange FTX, used insider trading information of FTX tokens (FTT) to enrich his charitable foundation, Polaris Ventures.

A majority of Polaris’s wealth came from Donnelly’s initial transfer of FTT after he purchased the token before its public listing, the Wall Street Journal (WSJ) reported Tuesday, citing people familiar with the matter.According to WSJ, Donnelly was one of the first employees at trading firm Alameda Research before he became the chief of staff at FTX in 2019.

While working for both firms, Donnelly co-founded Polaris, a Swiss-based foundation that promoted research into effective altruism and artificial intelligence. When FTX was launched, the exchange offered Donnelly and other early employees a deal to purchase the FTT tokens for $0.05 each before they became publicly traded for $1.

Donnelly accepted the offer and asked FTX to exchange $562,000 of his salary for 11.2 million FTT tokens. At his request, FTX forwarded the tokens as a grant to Polaris. This was confirmed through the foundation’s financial statements.