New York’s Metropolitan Museum of Art will return $550,000 in donations it received from FTX before the crypto exchange collapsed in November.
The museum, avoiding further litigation, has agreed to return the payments, made in March and May last year by FTX’s U.S. entity West Realm Shires Services.
FTX’s founder and former Chief Executive Officer Sam Bankman-Fried donated to promote his effective altruism cause, using funds raised by the exchange to support various worthy causes.
John Ray III, the new chief executive officer of the exchange is seeking to recoup donations made by the company in order to repay creditors.
