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HomeCryptoNon-Revenue ProPublica to Return SBF’s Cash

Non-Revenue ProPublica to Return SBF’s Cash

Nonprofit investigative information outlet ProPublica has introduced that it will likely be returning the $1.6 million donation it obtained from Sam Bankman-Fried’s household basis, Constructing a Stronger Future, Axios experiences.  

This choice was made with the board’s help and was as a consequence of Bankman-Fried going through legal prices and his empire crumbling. The return of funds is not going to restrict their dedication to spending on investigations into the pandemic, biosecurity, and public well being preparedness. 

The FTX collapse has put the assorted media firms Bankman-Fried had invested in a bind since they’re uncertain the place to allocate the contaminated funds. Semafor and The Intercept stay uncertain about what motion to take. The Block, a cryptocurrency information website that was being secretly funded by Bankman-Fried, doesn’t intend to present again Bankman-Fried’s cash right now. 

Paperwork obtained by the Monetary Occasions present Bankman-Fried made investments that prolonged previous U.S-based information shops and included Chinese language media website Odaily Information.

Following the collapse of FTX in November, Bankman-Fried was arrested within the Bahamas earlier this month.  

Bankman-Fried has agreed to be extradited to the USA the place he faces a federal indictment involving eight counts of fraud and conspiracy. Throughout an interview with an area journalist, lawyer Jerone Roberts clarified that his consumer would make one other courtroom look as a way to finalize the extradition course of. 

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