Recovery of FTX funds 🧵

1/ 💰 FTX debtors recovered approximately $14.5M in November through agreements with political donations, according to a court report from December 10.

🔍 The funds included:

$6M from House Majority PAC

$3M from Senate Majority PAC

More than $1M from Forward Action Fund, Mind the Gap, and People for the American Way.

2/ 🏛️ These efforts are part of a 2-year bankruptcy process, seeking to return funds linked to donations under the leadership of Sam Bankman-Fried (SBF).

FTX donated to nearly 1/3 of Congress, with SBF contributing at least $40M to political campaigns.

3/ 🗳️ Although most donations were to Democrats, SBF claimed to have also supported Republicans, although there are no clear records.

🔄 After the collapse of FTX, several politicians redirected these donations to charitable causes.

4/ ⚖️ The FTX bankruptcy also includes lawsuits against Binance, Crypto.com, and other platforms, seeking to recover billions in funds.

🎯 Goal: Prepare refunds for creditors in 2025.

💡 Can FTX recover more assets? Follow the case! 👀