- FTX requested that the court take back $323 million from the leadership team.
- The New York Metropolitan Museum of Art also agreed to return the $550,000 donation.
FTX, one of the leading crypto exchanges, and Alameda hope to recover more than $71 million from FTX’s philanthropic arm. The bankrupt firm is taking steps to recover the funds for its customers.
FTX Foundations announced their partnership with Latona. According to the case file, through the partnership, Latona has received $71.5 million from FTX and Alameda Research to make investments in donations to the life sciences firms for Bankman-Fried’s aggrandizement.
Last month, Alameda’s lawyers tried to recover the $700 million that the FTX founder, Sam Bankman-Fried had paid to forge connections with politicians and celebrities. After that, this month, FTX requested the court take back $323 million from the leadership team of the exchange’s European arm.
Australian Securities Canceled FTX Licence
According to the filings, they made a transfer to the life science firms, including Lumen Bioscience Inc and Platform Life Science Inc. Moreover, the lawyers stated that helping the less fortunate wasn’t the real purpose of the charitable trust.
In the filings, the lawyers also mentioned that Bankman-Fried pursued this while claiming to make these investments for altruistic reasons. Moreover, he believed that this investment would repay him in goodwill and as an influence. The New York Metropolitan Museum of Art also agreed to return the $550,000 donation it received from the FTX.
Recently, the Australian securities regulators announced that they had canceled the license of the collapsed crypto exchange FTX. The US government has filed a criminal lawsuit against the exchange founder Sam Bankman-Fried alleging he is a fraud. However, Bankman-Fried has denied the allegations and pleaded not guilty.
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