FTX, once one of the leading cryptocurrency exchanges, had a great impact in the market with its collapse in November 2022.
FTX, which filed for bankruptcy in November 2022, has been in the bankruptcy process ever since.
According to the news of Coindesk, bankrupt FTX requested the return of the funds it sent before its collapse in November.
In this context, shortly before the collapse in November, FTX, the New York-based Metropolitan Museum of Art, requested a donation from the museum.
According to the court filing, the Metropolitan Museum of Art has agreed to return $550,000 in donations from FTX.
In the document submitted to the court file, the Museum of Art said:
“Museum of Art agrees to refund donations made by FTX, but wants to return these donations to FTX borrowers.
The FTX Borrowers and the Museum of Art have conducted in good faith, peer-reviewed negotiations regarding the return."
If the refund agreement between FTX debtors and the Museum of Art is approved, the Museum of Art will refund the $550,000 donation made to it by FTX.
According to the documents in the dossier, donations to the Museum of Art were made by West Realm Shires Services, which operates FTX.US, which focuses on serving US customers.
In March 2022, West Realm Shires Services initially donated $300,000 to the Museum of Art. A second donation of $250,000 was then made in May.
