{"id":51332,"date":"2023-06-05T18:22:22","date_gmt":"2023-06-05T22:22:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=51332"},"modified":"2023-06-05T18:45:23","modified_gmt":"2023-06-05T22:45:23","slug":"new-yorks-met-museum-agrees-to-return-550k-in-ftx-donations","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/new-yorks-met-museum-agrees-to-return-550k-in-ftx-donations\/","title":{"rendered":"New York\u2019s Met Museum Agrees to Return $550K in FTX Donations"},"content":{"rendered":"\n

The Metropolitan Museum of Art<\/a> in New York City has decided to refund $550,000 in donations it received from the now-bankrupt crypto exchange, FTX.<\/p>\n\n\n\n

\"New
New York\u2019s Met Museum Agrees to Return $550K in FTX Donations<\/figcaption><\/figure>\n\n\n\n

The museum made this decision known in a document submitted on June 2 to the US Bankruptcy Court<\/a> in Delaware, where FTX initiated its bankruptcy proceedings.<\/p>\n\n\n\n

The museum's choice to return the donations comes after engaging in “good faith, arm's length negotiations” with FTX's creditors. The exchange gave the money in two installments: $250,000 in May 2022 and another $300,000 in March 2022. The company that ran FTX, West Realm Shires Services\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, coordinated these donations.<\/p>\n\n\n\n

Other FTX Donations<\/h2>\n\n\n\n

FTX management has been actively seeking to recover its donations from various organizations and politicians. This has been since December, which was a month after declaring bankruptcy. <\/p>\n\n\n\n

According to court records, the exchange made donations amounting to $93 million between March 2020 and November 2022. However, out of the 180 US lawmakers who received funds from the now-bankrupt crypto exchange, only 19 have either returned the money or expressed their intention to do so. <\/p>\n\n\n\n

Market Watch data reveals that the “Protect our Future PAC” has been the largest recipient of the donations, receiving over $27 million. On November 11 and 14, 2022, FTX Trading Ltd. <\/a>and its related creditors filed for bankruptcy protection. <\/p>\n\n\n\n

They continue to run and maintain control of their businesses as debtors in possession. The court earlier granted combined administration of the Chapter 11 cases.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Metropolitan Museum of Art in New York City has decided to refund $550,000 in donations it received from the now-bankrupt crypto exchange, FTX. The museum made this decision known in a document submitted on June 2 to the US Bankruptcy Court in Delaware, where FTX initiated its bankruptcy proceedings. The museum’s choice to return […]<\/p>\n","protected":false},"author":43,"featured_media":51334,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3941,778,14733,1811],"class_list":["post-51332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-donations","tag-ftx","tag-met-museum","tag-new-york"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/croc_1685997076974.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=51332"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/51334"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=51332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=51332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=51332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}