Daily Management Review

FTX Group asks U.S. politicians to return its donations


The FTX Group, which filed for bankruptcy in November, asked American politicians to return tens of millions of dollars in political contributions made by last fall.

Politicians and organizations that had received cash donations from Sam Bankman-Fried's cryptocurrency startup have already received "confidential letters" from the corporation. FTX want its money returned before the end of February.

In doing so, the business has issued a warning that it is prepared to use the legal system to demand a refund and interest payment. The corporation expects to receive a total refund of $93 million.

Recall that FTX Group filed for bankruptcy on November 11 of last year. Sam Bankman-Fried, the founder of the exchange, was charged with planning a plot to swindle investors who had contributed close to $1.8 billion to the cryptocurrency exchange. Investigators claim that the founder of FTX transferred client assets to the Alameda Research trading platform, his other business. Partners of Bankman-Fried admitted to engaging in fraud.

source: coindesk.com