Met Museum to return $550K FTX donations.

The Metropolitan Museum of Art in New York has agreed to return $550,000 in donations it received from FTX, a cryptocurrency exchange, shortly before its collapse in November. This information was revealed in court filings on Friday. The court document stated that the museum had agreed to return the payments made in March and May 2020 by FTX’s U.S. entity, West Realm Shires Services, in full and without further litigation. The filing by FTX stated that both parties engaged in “good faith, arm’s length negotiations” concerning the repayment, and that it would be made within one month of judicial approval. FTX’s founder and former CEO, Sam Bankman-Fried, was a promoter of effective altruism and used funds raised by the exchange to support various causes. The estate, now under new management, is seeking to recoup donations made by the company to repay creditors, including potentially sizable political donations. For more information, read “How Effective Altruism Power Brokers Helped Make Sam Bankman-Fried.” This article was edited by Sandali Handagama.

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