September 21, 2023

New York Metropolitan Museum of Art will return $500,000 in donations from FTX

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New York Metropolitan Museum of Art will return $500,000 in donations from FTX

The Metropolitan Museum of Art in New York said it would return the $500,000 it received in donations from FTX, adding that the decision was the result of "good faith negotiations" between the museum and the crypto exchange.

Donations have been made to West Realm ShiresServices is the company that manages the US division of the bankrupt cryptocurrency exchange FTX. West Realm Shires Services donated $300,000 to the museum in March 2022 and received an additional $250,000 donation in May, according to court documents.

After the collapse of FTX, the founder of the exchange, SamBankman-Fried has been charged with a range of financial crimes, from fraud to money laundering, to which he has pleaded not guilty. He is accused of misappropriating billions in client funds to buy private real estate, donate to political campaigns and support his Alameda Research hedge fund.

In May, the US Department of Justice sent lettersmembers of Congress to voluntarily return funds received from FTX. Back in February, the FTX Group sent letters to politicians demanding the return of tens of millions of dollars they received from the cryptocurrency exchange as donations. According to reports in the US media, we can talk about the amount of $93 million.

However, there are also politicians who have said they have already given donations to charity. In response, the FTX bankruptcy trustees warned that lawyers would do everything to return the funds.