The restructured crypto exchange FTX has set a deadline to recover political donations made before it went bankrupt.
The FTX bankruptcy, which steered the course of the crypto money market, brought many legal processes with it. The company’s bankruptcy put millions of aggrieved investors and billions of dollars in creditor payments on the table. Restructured FTX is working hard to fix grievances and pay off debt obligations. In this context, FTX has set a deadline for the return of political donations made in the previous period.
FTX Requests Refund of Political Donations
The restructured FTX is seeking the return of political donations made under former CEO Sam Bankman-Fried (SBF).
FTX’s new management has demanded that political donations made by the company’s former executives be returned by the end of the month. With the deadline, the company focused on repaying creditors and handling the bankruptcy process.
According to the company’s lawyer, Andy Dietderich, the company has managed to buy back $5 billion in cash and liquid cryptocurrencies. However, the company’s liabilities are close to $9 billion.
In a statement regarding political donations, “These recipients are requested to return such funds to FTX Borrowers by February 28, 2023.” it was said.
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