Bankrupt and restructured, FTX is trying to recover political donations made by the company and Sam Bankman-Fried in the past.
Cryptocurrency exchange FTX is trying to restructure after its collapse and bankruptcy. The company, which has a new CEO appointed by the court, is working hard to fix what has been done in the past. It is estimated that the company owes its nearly 1 million users between $10 and $50 billion. Prioritizing returning client funds, the new CEO is trying to find the necessary funding. In this context, FTX demands the return of past political donations.
FTX Is Working Hard To Reclaim Political Donations
Cryptocurrency exchange FTX continues its legal battle as a process of restructuring. The company legally enforces the return of political donations made in the past.
The other day, an announcement was published by FTX. In this announcement, a segment of so-called FTX debtors were asked to voluntarily carry out the return process. The company stated that it will take legal action against those who do not voluntarily return.
Political donations are among the FTX borrowers. In the past weeks, three members of the Democratic Party announced that they will make a refund of $1 million. It is also expected that the $5.2 million donation to the Biden administration will be returned.
According to legal experts, FTX’s political donations amount to $73 million.
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