Metropolitan Museum of Art to return $550K in donations from FTX

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The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November.The New York-based museum validated its intention to repay the funds to FTX debtors in a filing to the United States Bankruptcy Court in Delaware on June 2– the same court where FTX started its insolvency procedures. Filing from the Metropolitan Museum of Art. Source: CourtListenerThe Met said the agreement began the back of “excellent faith, arms length settlements” with FTXs debtors:” The Met wants to return the Donations to the FTX Debtors, and the FTX Debtors and the Met have taken part in good faith, arms length settlements worrying the return of the Donations.” The $550,000 was paid to the Met in two separate installations– the first $300,000 was paid in March 2022 while the additional $250,000 came two months later in May.The contributions were facilitated by West Realm Shires Services, the firm that ran FTX.US.FTXs management has actually been looking for to claw back its donations from politicians and other organizations since December, about a month after it submitted for insolvency in Delaware.FTX distributed $93 million in contributions in between March 2020 and November 2022, according to court files. Related: FTX humanitarian contributions have developed a complicated issue for recipientsOf the 180 United States or so political leaders to have actually recieved funds from FTX, only 19 have returned their funds or have actually indicated their objective to do so, according to information from Unusual Whales. BREAKING: FTX creator Sam Bankman-Fried is charged with more than 300 illegal political donations.He has given $42 million to Democrats & & “dark money” to Republicans.But there hasnt been a full list of the politicians.Until now. Click on this link to see: https://t.co/araVgIsCG3 pic.twitter.com/CezXTKq7cQ— unusual_whales (@unusual_whales) February 23, 2023