Mysterious $10 Billion Crypto DAF Reappears in Wyoming

The Chronicle of Philanthropy reported over the summer that a $10 billion DAF sponsor organization, SDG Impact, had apparently emerged in Wyoming after being barred from existing in Georgia because the chief executive officer allegedly used donor money for personal expenses. From the LinkedIn Post about the article titled Mysterious $10 Billion Crypto DAF Barred in Georgia, Appears to Re-Emerge in Wyoming (subscription required):

SDG Impact, a $10 billion donor-advised fund was barred from Georgia after regulators found its CEO siphoned donor money for personal expenses. Now a similarly named charity has surfaced in Wyoming — one of the least regulated states for nonprofits.

Experts say this is a familiar pattern: bad actors get shut down in one state, then simply set up shop in another.