FTX Seeks to Recover $71M from Its Charity Arm and Other Life Sciences Entities

Bankrupt crypto exchange FTX and its sister company Alameda want to recover more than $71 million from FTX’s philanthropic arm and other life sciences entities, CoinDesk reported. The FTX Foundation, in partnership with Latona, received approximately $71.5 million from FTX and Alameda Research for investments and donations in life sciences companies to enable Bankman-Fried's personal investment, the lawyers said. The Metropolitan Museum of Art in New York also agreed to return a $550,000 donation from FTX. Foresight News previously reported that Alameda attorneys sought to recover the $700 million paid by FTX founder Sam Bankman-Fried last month to establish connections with celebrities and politicians. This month, FTX also asked the court to recover $323 million from the leadership team of the exchange’s European arm.