The collapse of FTX, a crypto exchange, in November 2022 has led to a series of refund requests from its debtors.
Met Agrees to Return Donations Made by FTX Before Bankruptcy
The collapse of FTX, a crypto exchange, in November 2022 has led to a series of refund requests from its debtors. Among them is the Metropolitan Museum of Art (Met), a renowned museum in New York, which has agreed to return $550,000 that it received from FTX before its bankruptcy. The Met filed its intention to the United States Bankruptcy Court in Delaware on June 2, 2023, where FTX also initiated its bankruptcy proceedings.
The donation from FTX was made in two parts: $300,000 in March 2022 and $250,000 in May 2022. The funds were transferred by West Realm Shires Services, the company that operated FTX.US. FTX had donated a total of $93 million to various politicians and organizations between March 2020 and November 2022, according to court documents. However, only 19 out of 180 or so U.S. politicians who received FTX's funds have returned them or indicated their willingness to do so, as per data from Unusual Whales.