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  4. Intercept, Vox Media & Others To Return Grants By Sam Bankman-Fried
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Intercept, Vox Media & Others To Return Grants By Sam Bankman-Fried

Major media companies are freezing grants donated by bankrupt FTX’s Sam Bankman-Fried.ProPublica, Vox Media, Intercept, and Semafor is considering returning the funds.Part...
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Intercept, Vox Media & Others To Return Grants By Sam Bankman-Fried Intercept, Vox Media & Others To Return Grants By Sam Bankman-Fried

  • Major media companies are freezing grants donated by bankrupt FTX’s Sam Bankman-Fried.

  • ProPublica, Vox Media, Intercept, and Semafor is considering returning the funds.

  • Part of the funds donated has already been used by the firms on social issues such as public health, covid-19, poverty, and more.

Major media companies have recently announced the return of the grants they received from FTX founder and CEO, Sam Bankman-Fried after the US Justice Department files charges against the bankrupt cryptocurrency exchange.

Bankman-Fried was accused of fraud, and money laundering, demonstrating an incorrect financial narrative of FTX, as well as, using his customer’s money without their consent.

The non-profit organization, ProPublica announced on December 20, that they will be repaying the $1.6 million USD donated by SBF’s foundation, Building A Stronger Future. While the money was going towards public health, biosecurity, and coronavirus, the non-profit shared that they will figure out other ways of funding, instead.

The 3-year grant worth $5 million USD was suspended by ProPublica when SBF stepped down and FTX filed for bankruptcy. However, it remains undetermined where the grant money will go next.

SBF’s family foundation donated $200,000 USD to Vox Media which the com ...

The post Intercept, Vox Media & Others To Return Grants By Sam Bankman-Fried appeared first on Coin Edition.

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