Metropolitan Museum of Art in New York to return $550,000 FTX donation

Metropolitan Museum of Art in NY to return $550K FTX donation.

According to Decrypt, the Metropolitan Museum of Art in New York has agreed to return hundreds of thousands of dollars in donations received from FTX under the leadership of its founder and former CEO, Sam Bankman-Fried. According to court documents filed on Friday, if the Metropolitan Museum of Art and FTX’s debtor reach an agreement approved in the exchange’s Chapter 11 bankruptcy case, the museum will eventually return $550,000. A motion stated that the Metropolitan Museum hopes to return the donation to FTX’s debtor and that the measure is the result of “good faith and fair negotiations” between the two parties. The donations were provided by West Realm Shires Services, the company that operates FTX US. According to court documents, West Realm Shires Services initially donated $300,000 to the Metropolitan Museum in March of last year, and donated an additional $250,000 in May.

Reference: https://decrypt.co/143388/metropolitan-museum-of-art-return-550-thousand-in-ftx-donations

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