FTX seeks to claw back political donations by the end of February
FTX’s new management is sending messages to politicians and political groups to return donations by the end of the month.
FTX’s new management is seeking to recover political donations made by Sam Bankman-Fried and other FTX executives until February 28, according to a statement disclosed on Feb. 5.
The move is part of bankruptcy proceedings and an effort to repay the crypto exchange creditors. According to FTX attorney Andy Dietderich, the defunct firm has “recovered $5 billion in cash and liquid cryptocurrencies” by Jan. 11. Total liabilities amount to nearly $9 billion.
As noted in the statement:
“FTX Debtors are sending confidential messages to political figures, political action funds, and other recipients of contributions or other payments that were made by or at the direction of the FTX Debtors, Samuel Bankman-Fried or other officers or principals of the FTX Debtors (collectively, the “FTX Contributors”). These recipients are requested to return such funds to the FTX Debtors by February 28, 2023.
This is a developing story, and further information will be added as it becomes available.
