Fallen crypto exchange FTX gets back donation to museum

Before the ship called FTX went down last November, the crypto exchange regularly made generous donations. The company did this to political bodies, but also to cultural ones. For example, the Metropolitan Museum in New York received a donation of $ 550,000 from FTX. In consultation it has been decided that this donation will be reversed. This was on June 2 announced.

The Met returns donation

Between March 2020 and November 2022, FTX made a whopping $93 million in donations. Since the bankruptcy in November, the exchange has been trying to reverse these donations and raise the necessary financial resources. The donations to the Metropolitan Museum, also known as ‘the Met’, were made in March and May 2022.

“The Met wants to return the donations to FTX debtors. The debtors of FTX and the Met have negotiated the return of the money in good faith.”

FTX donated 42 of the $93 million in donations to political organizations. The exchange also requested the 180 politicians to return the donations. So far, only 19 of these have done so. Recently, Unusual Wallets, a Twitter account, public list with all US political agencies receiving money from FTX.

Will FTX make a restart?

At the end of last month, some very remarkable news came out. A document that was made public suggested that FTX may be considering a restart. The document used terms such as ‘FTX 2.0’ and ‘exchange fortification’.

After the bankruptcy, many victims already hoped that the exchange would make a restart. With this latest news, this possibility seems more realistic than previously thought. Will FTX rise like a phoenix from the ashes?

The chance that former CEO, Sam Bankman-Fried, will have anything to do with FTX is very small. His trial will start in October this year, but things don’t look very good for SBF. For example, several people involved have already pleaded guilty to several serious violations. However, SBF still maintains his innocence.

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