Recently published accounts from FTX-backed charity Effective Ventures confirm that the company sold a £17 million ($23 million) stately manor at a £10.7 million ($14.5 million) loss as it continues to wind down its UK operations.
Effective Ventures’ UK arm bought the manor in 2022 as part of a plan to host educational events for the effective altruism movement, a set of beliefs that involves wealthy donors directing funds to specific causes that they deem will do the most good most efficiently.
FTX donated over $26 million to the Effective Ventures Foundation, which was later paid back during the exchange’s bankruptcy proceedings. The charity told UK government regulators that it had received funds from FTX, and after an inquiry, was found to have acted “diligently” in response to FTX’s collapse.
In its accounts for the year up to June 2025, published last Friday, it confirmed that the manor was sold for £5.95 million ($8 million) and that it had incurred an impairment loss of £8.6 million ($11.6 million).
Wytham Abbey was bought by the FTX-funded charity (Images courtesy of Savills).
Read more: FTX funded this UK charity, now it’s under investigation
Local outlets reported that the manor’s price was initially set at £15 million ($20.3 million) before being slashed to £12 million ($16.3 million) a year later, and eventually to just under £6 million ($8 million).
The charity says property valuation experts recommended that it cut the asking price due to “reductions in market sentiment.”
Effective Ventures UK CEO says funds will be donated
Effective Ventures CEO Rob Gledhill had already revealed in the Effective Altruism forum that the manor was officially sold on November 11, 2025.
He reiterated that “market conditions for country estates” led to the drop in value and added that the proceeds from the sale, “will be allocated to high-impact charities, including EV’s operations.”
Within the accounts, the charity says that it’s made “significant progress” spinning out projects into new independent entities as it winds down the firm.
The charity said that it doesn’t expect to sponsor any new projects and that it should wind down in “2026 or beyond.”
Read more: FTX-funded charity Effective Ventures agrees to return donations
It also revealed that the charity made £12 million ($16.3 million) during the 2025 fiscal year, of which £11.2 million ($15.2 million) was made up of donations and grants.
It’s less than half of the £31.6 million ($42.8 million) it made in 2024.
Its expenditure has also gone up by over £2 million ($2.7 million) from 2024 to 2025, as the firm spent £37.5 million ($51 million) in the 2025 fiscal year.
