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<p class="is-style-lead">In the aftermath of FTX&#8217;s bankruptcy, The Metropolitan Museum of Art confirms its decision to return $550,000 in donations from the crypto exchange.</p>



<p>The Metropolitan Museum of Art, New York, has declared its intentions to refund $550,000 it received from FTX, a cryptocurrency exchange that folded last November. The museum stated its decision in a submission to the US Bankruptcy Court in Delaware on June 2, where FTX started its bankruptcy proceedings.</p>



<p>The repayment results from &#8220;good faith, arm&#8217;s length negotiations&#8221; with FTX&#8217;s debtors, with the museum expressing a desire to return the donations.</p>



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<p>FTX contributed the amount in two tranches; $300,000 in March 2022 and another $250,000 two months later, in May. West Realm Shires Services facilitated these donations to the firm that operated FTX.US.</p>



<h2 class="wp-block-heading" id="other-ftx-donations">Other FTX donations</h2>



<p>Since December, a month after filing for bankruptcy, FTX&#8217;s management has endeavored to recover its donations from various organizations and politicians. Court documents reveal that FTX donated $93 million between March 2020 and November 2022.</p>



<p>However, only 19 of about 180 US politicians who received funds from FTX have either returned the donations or indicated their intent to do so. The &#8220;Protect our Future PAC&#8221; is the largest FTX beneficiary, receiving approximately $27 million, per Market Watch data.</p>



<p>FTX Trading Ltd. and its affiliated creditors voluntarily <a href="https://crypto.news/ftx-files-for-chapter-11-bankruptcy-taking-down-about-130-companies-with-it/">filed for bankruptcy</a> protection on November 11 and 14, 2022. As debtors-in-possession, they maintain control of their companies and keep them running. The Chapter 11 cases may be jointly administered since the court previously approved this.</p>



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Met museum to refund $550k in donations from FTX

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