Facebook X (Twitter) Instagram
    Crypto AcademyCrypto Academy
    • Home
    • News
    • Price Predictions
    • Price Analysis
    • NFTs
    • Learn
    • Press Releases
    • Coins
      • Bitcoin
      • Ethereum
      • Cardano
      • Safemoon
      • Dogecoin
    • Advertise on Crypto Academy
    Facebook X (Twitter) Instagram Telegram
    Crypto AcademyCrypto Academy
    Home»News»FTX To Claw Back Political Donations and Contributions
    News

    FTX To Claw Back Political Donations and Contributions

    Rea K.By Rea K.December 20, 2022Updated:December 20, 20222 Mins Read
    FTX To Claw Back Political Donations and Contributions
    Share
    Facebook Twitter LinkedIn Email Reddit Telegram WhatsApp

    The now-bankrupt cryptocurrency exchange FTX stated that it is considering using legal actions in order to get back all donations and contributions made by the former CEO Sam Bankman-Fried.

    In a press release early on December 19, FTX said that it had already “been approached by a number of recipients of contributions or other payments, that were made by, or at the direction of Sam Bankman-Fried or other officers, adding those entities have sought directions for the return of such funds.”

    Sharing our press release just issued: FTX Debtors Announce Process for Voluntary Return of Avoidable Payments https://t.co/l57F7zgKPJ

    — FTX (@FTX_Official) December 19, 2022

    Three large Democratic organizations that SBF donated to have pledged to return over $1 million to FTX. 

    In its statement, FTX invited those that received donations from SBF to “make arrangements for the return of such payments” and continued by saying that if they were not voluntarily returned, the crypto exchange would take legal actions to claw the payments back.

    Many organizations that received funds from FTX have already donated the funds to charitable organizations. 

    However, FTX stated that these charitable offloads wouldn’t stop the exchange from coming after the funds.

    “Making a payment or donation to a third party (including a charity) […] Does not prevent the FTX Debtors from seeking recovery.” 

    Moreover, SBF was the second-largest donator to the Democratic Party in the 2022 mid-elections, funding over $36.8 million, followed by $5.2 million to Joe Biden’s 2020 U.S. Presidential Campaign. 

    Sam Bankman-Fried was charged with violations of campaign finance laws, fraud, and money laundering on December 13 and is currently staying at Fox Hill prison in the Bahamas, waiting for extradition to the U.S. 

    Previous ArticleVisa Teases Ethereum Collab
    Next Article Binance Acquires Indonesian Crypto Exchange Firm Tokocrypto 

    Related Posts

    SBF Offered Trump $5 Billion Not To Run for President

    Vitalik Buterin Highlights Centralization Concerns On Staking Pools

    Coinbase Secures Singapore License

    SBF Offered Trump $5 Billion Not To Run for President

    October 3, 2023

    Vitalik Buterin Highlights Centralization Concerns On Staking Pools

    October 3, 2023

    Coinbase Secures Singapore License

    October 3, 2023

    “Uptober” Arrives: Bitcoin & Ethereum Surge

    October 3, 2023

    Bitcoin Options Worth $3 Billion Set to Expire

    October 2, 2023
    Facebook X (Twitter) Instagram Telegram RSS
    • Home
    • Advertise on Crypto Academy
    • Terms and Conditions
    • Privacy Policy
    © 2023 Crypto-Academy.org. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version