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In Friday's court filings, it was stated that the Metropolitan Museum of Art in New York has agreed to reimburse $550,000 in donations it received from FTX, the crypto exchange that collapsed in November.
The court document states that the museum has willingly committed to returning the complete payments, which were made by FTX's U.S. entity West Realm Shires Services in March and May of the preceding year. This resolution has been reached amicably, eliminating the necessity for any further litigation.
“The Met wishes to return the Donations to the FTX Debtors, and the FTX Debtors and the Met have engaged in good faith, arm’s length negotiations concerning the return,” said the filing by FTX, with a repayment to be made within one month of judicial approval.
Previously, FTX's founder and former Chief Executive Officer, Sam Bankman-Fried, actively advocated for effective altruism by utilizing funds generated from the exchange to contribute to numerous deserving endeavors. However, with the introduction of new management, the estate is now endeavoring to recover the donations made by the company. The purpose behind this is to repay creditors, which may include substantial political contributions.
