Wednesday, October 4, 2023

MET returns $550,000 to FTX

The Metropolitan Museum of Art (MET) in New York announced that it is returning half a million dollars (550,000, equivalent to 513,000 euros in total) it received in donations from the FTX cryptocurrency platform, which later became a One of the biggest contemporary scams on a massive scale.

According to a court document signed last Friday and echoed today by the portal, MET received a first donation of $300,000 on March 23, and a second donation of $250,000 on May 13, from West Realm Shire, a company owned by FTX. Received through Services. ,

The two donations were agreed upon last October, a month before FTX filed for bankruptcy, leaving thousands of crypto business users bankrupt; After which its founder Sam Bankman-Fried was arrested in the Bahamas and extradited to the US.

“Mate-court documents say- FTX (with whom) wants to return the donations, we have negotiated a transaction for their return (…) in good faith and without the need for subsequent litigation “

It is not clear how the half million dollars were paid after the FTX bankruptcy

The founder and executive director of FTX, who is on probation, was an active donor to all kinds of causes, with a bias for progressive causes, in addition to political campaigns, although he also donated to a Republican candidate.

Bankman-Fried is currently under house arrest at her parents’ home in Palo Alto (California, USA), after agreeing to a $250 million bail, awaiting a trial that is scheduled to begin next October.

If convicted of all the crimes of which he is accused – which include fraud, money laundering and bribery, among other things – he faces a prison sentence of more than 100 years.

World Nation News Desk
World Nation News Desk
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