Reportedly, the current administration of FTX is attempting to recoup millions of dollars in donations made by the cryptocurrency exchange and its former CEO Sam Bankman-Fried. The gifts, on the other hand, come from a variety of sources and agreements, making it difficult to sum them up. Some of the funds have also already been spent.
Over 110 nonprofit organizations in the U.S., India, China, and Brazil were reportedly the recipients of more than $160 million from FTX’s charity arm, Future Fund. SBF is accused by federal authorities of using client deposits to finance his trading business, give to political causes, and pay for personal costs. All philanthropic payments, according to an SBF representative, were made from trading earnings, not from the company’s general fund.
