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Politicians and organizations that had received cash donations from Sam Bankman-Fried's cryptocurrency startup have already received "confidential letters" from the corporation. FTX want its money returned before the end of February.
In doing so, the business has issued a warning that it is prepared to use the legal system to demand a refund and interest payment. The corporation expects to receive a total refund of $93 million.
Recall that FTX Group filed for bankruptcy on November 11 of last year. Sam Bankman-Fried, the founder of the exchange, was charged with planning a plot to swindle investors who had contributed close to $1.8 billion to the cryptocurrency exchange. Investigators claim that the founder of FTX transferred client assets to the Alameda Research trading platform, his other business. Partners of Bankman-Fried admitted to engaging in fraud.
source: coindesk.com
In doing so, the business has issued a warning that it is prepared to use the legal system to demand a refund and interest payment. The corporation expects to receive a total refund of $93 million.
Recall that FTX Group filed for bankruptcy on November 11 of last year. Sam Bankman-Fried, the founder of the exchange, was charged with planning a plot to swindle investors who had contributed close to $1.8 billion to the cryptocurrency exchange. Investigators claim that the founder of FTX transferred client assets to the Alameda Research trading platform, his other business. Partners of Bankman-Fried admitted to engaging in fraud.
source: coindesk.com
