FTX affair: donations made to politicians to be returned at all costs

Resume is no longer stealing? – With more than a million creditors to paythe team in charge of the bankruptcy of FTX embarked on a real cash hunt. She now demands that donations from Sam Bankman-Fried (SBF) be returned to the company.

Collection of donations: the poisoned gifts of FTX and SBF

According to a communicated of December 19, FTX Trading and its affiliates were contacted by “recipients of contributions or other payments”, which Sam Bankman-Fried or other officers of these companies have made or which have been made under their direction. These entities would have asked them for the “directives” to return the funds.

In the announcement, FTX also invites other beneficiaries to contact the crypto exchange or other companies attached to it in order to proceed with the restitution of these payments.

Although some entities have therefore already played the game voluntarily, FTX has indicated that it will file a lawsuit against the recalcitrant, to force them to return these funds. And the company brandished the threat of current interests “from the date on which any action is brought”.

>> Prefer to keep your cryptos safe? Choose a ledger portfolio (commercial link) <<

Liquidity at all costs: what about the White House?

FTX is ready for anything to try to replenish its treasury in order to pay its abyssal debts. He goes so far as to specify that beneficiaries who have used these funds to pay a third party or who have returned them as gifts, even to charitiesmust return the relevant amount to the crypto exchange or its affiliates.

Furthermore, FTX could even direct its actions to those third parties, who later received those funds and would not return them on their own.

FTX and Sam Bankman-Fried Donations Harm Their Beneficiaries
Would the recipients of FTX and SSBF donations have done without this type of gift?

Despite this intimidating statement, FTX attorneys and the team at John Ray III are they really ready to cross swords with certain beneficiaries? Sam Bankman-Fried had performed a donated over $5 million to Joe Biden for the 2020 US presidential election.

On paper, the President of the United States or the Democrats will therefore have to return these funds or face legal action. In fact, since either of these options would damage the image of the ruling party, the question is whether a bankrupt crypto exchange is strong enough to engage in such a legal and political battle.

What is the actual amount of donations that Sam Bankman-Fried and FTX made in using client assets ? Today, these gifts have become a curse for their recipients.

In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!

Leave a Reply

Your email address will not be published. Required fields are marked *