PANews reported on December 11 that according to CryptoSlate, FTX debtors recovered about $14.5 million in assets in November through a political donation settlement. These funds mainly came from House Majority PAC ($6 million) and Senate Majority PAC ($3 million), as well as other organizations such as Forward Action Fund, Mind the Gap and People for the American Way, each of which returned more than $1 million.
The recovery effort is part of FTX's bankruptcy proceedings, aimed at recovering funds donated during the leadership of Sam Bankman-Fried, who has influenced Washington policymaking through large political donations, including donations to nearly a third of the members of the U.S. Congress, totaling at least $40 million.
After the collapse of FTX, many politicians chose to transfer these donations to charities to distance themselves from the scandal. Currently, the FTX bankruptcy management team is also taking legal action against other platforms and individuals in an attempt to recover more assets, including lawsuits against Binance, Crypto.com, KuCoin and other well-known figures. This move is intended to prepare for creditor compensation, which is expected to begin in early 2025.
