The new management of the bankrupt cryptocurrency trading platform FTX has warned politicians and political organizations to return the funds they received from the crypto firm or its founders before it went under last year. In a statement, FTX said it had sent confidential messages to political figures, political action committees and other recipients, giving them until February 28 to refund all donations or face legal repercussions.
The warning follows a December 19 announcement by the FTX debtors that they have arranged for recipients to return the funds voluntarily. The statement explains that if payments are not returned voluntarily, the debtors reserve the right to seek court action to require the return of any donation or payment, even if it was transferred to a third party such as a charity. This does not prevent the debtors from pursuing recovery from the original recipient or any subsequent transferee.
In a January statement, the company disclosed that it had identified $1.7 billion in cash, $3.5 billion in crypto assets and $3 million in securities. FTX’s new CEO, John Ray III, described the task of assessing the firm’s financial position as arduous.
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