There has been progress in the FTX case, as the FTX bankruptcy restructuring team has reached settlement agreements with multiple political action committees (PACs) and various state Democratic groups, recovering approximately $14 million in political donations.
Recovered $14 million from the majority party PACs and Democratic groups in both chambers of Congress.
According to court documents from December 10, the FTX bankruptcy management team reached a total settlement of $9 million with the majority party political action committees (House & Senate) in November, and also reached additional settlements with Democratic groups in various states in the U.S., recovering a total of approximately $14 million in settlement funds.
U.S. prosecutors stated that these settlement funds are part of the political donations made by SBF and other FTX executives. However, the situation became a bit complicated after SBF was extradited to the Bahamas in 2022, and therefore the prosecution dropped the charges the following year.
Latest FTX court documents and list of settlement amounts with various state PACs and Democratic groups. The various FTX executives have been arrested, and the liquidation and compensation processes are still ongoing.
It has been two years since the FTX collapse case, and the FTX bankruptcy team has been recovering funds. The various executives from that time have also been arrested:
SBF, the founder of FTX, has now been sentenced to 25 years in prison.
SBF's girlfriend and CEO of sister organization Alameda Research, Caroline Ellison, is currently a key witness for the prosecution and has been sentenced to two years in prison, and is currently serving her sentence.
FTX executive Ryan Salame has been sentenced to seven and a half years in prison and is currently serving his sentence.
Nishad Singh, the former engineering chief of FTX, was given three years of probation for his good cooperation.
Gary Wang, co-founder and CTO of FTX, was the last executive to be tried in the FTX case and also received probation.
Although SBF did not face charges related to political donations during the trial, the prosecution still ruled that he committed seven felonies. SBF is currently still in custody at the Brooklyn Metropolitan Detention Center (MDC) in New York, where he has started writing a prison diary in an attempt to publish a book to earn publishing fees. However, even if he earns the publishing fees, they may still be used to compensate the victims.
(Attention FTX Digital Markets customers! Please complete the relevant tax forms)
This article reports that FTX has recovered political donations! The bankruptcy team has recovered $14 million from the PACs and Democratic groups in the U.S. This was first reported by Chain News ABMedia.