Bankrupt crypto exchange FTX wants to recover all of its political donations made at the direction of the FTX Debtors, former CEO Samuel Bankman-Fried (SBF), or other executives, by February 28, 2023.
The donation recipients are advised that making a payment received from an FTX contributor to a third party including a charity does not bar the FTX Debtors from pursuing recovery from the recipient or any later transferee.
The FTX Debtors reserve the right to file actions before the bankruptcy court to demand the recovery of such funds if they are not returned willingly, with interest starting to accrue on the day any action is filed.
According to court documents submitted in January, the FTX debtors are examining $93 million in political donations made between March 2020 and November 2022.
The Democratic National Committee announced in December that it will set aside more than $1 million in FTX-related cash and return it at the discretion of bankruptcy attorneys, along with the party’s main Senate and House campaign committees.
Last April, SBF donated a total of $16 million to super PACs, becoming one of the largest donors to outside political groups. He was also one of the largest donors of the Joe Biden campaign, making a contribution of $5.2 million.
Also Read: Feds Seize $700M in assets Linked to FTX’s Sam Bankman-Fried
