The Metropolitan Museum of Art Will Return $550K in Donations from FTX

The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX ahead of its collapse in November.

museum in new york Confirmed In a filing on June 2 in the United States Bankruptcy Court in Delaware, it intended to repay the money to FTX debtors – the same court where FTX began its bankruptcy proceedings.

The Met said the settlement was reached on the basis of “good faith, arm’s length negotiations” with FTX’s debtors:

“The Met intends to return the donations to the FTX Debtors, and the FTX Debtors and the Mate are engaged in good faith, arm’s-length negotiations regarding the return of the donations.”

The $550,000 was paid to Mate in two separate installments – the first $300,000 was to be paid in March 2022 while an additional $250,000 was to be paid two months later in May.

The donation was facilitated by West Realm Shire Services, the firm that operates FTX.US.

FTX’s management has been asking politicians and other organizations to withdraw their donations since December, about a month after it filed for bankruptcy in Delaware.

According to court documents, FTX gave $93 million to charity between March 2020 and November 2022.

Connected: FTX charitable donation poses a complex dilemma for recipients

Of the 180 United States or so politicians who received money from FTX, only 19 have returned their money or indicated their intention to do so, According For data from unusual whales.

BREAKING: FTX founder Sam Bankman-Fried is accused of over $300 in illegal political donations.

He has given $42 million to Democrats and $42 million to Republicans in “dark money”.

But the complete list of politicians has not come.

So far.

Click here to view: pic.twitter.com/CezXTKq7cQ

— unusual_whales (@unusual_whales) February 23, 2023

The “Protect Our Future PAC” was the largest recipient of FTX, taking in nearly $27 million. According For data from Market Watch.

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