News outlet ProPublica announced that it will return a $1.6 million donation from Sam Bankman-Fried’s family foundation.
ProPublica management made this decision after the SBF faced very serious charges.
News Organization Will Refund Donation
After returning the donation, the nonprofit news organization ProPublica said their investigations into the pandemic, biosecurity and public health preparedness would not suffer.
The collapse of FTX left many companies in a difficult position. Some politicians who received donations from the SBF also returned the money or donated it to a charity.
Crypto news site The Block, which turned out to be funded by Sam Bankman-Fried, is not currently considering returning the money it received from SBF. Semaphore and The Intercept are also unsure how to decide.
According to documents obtained by the Financial Times, SBF also invested in China-based media company Odaily News.
Following FTX’s collapse in November, SBF was arrested in the Bahamas last week.
SBF is accused of many crimes including fraud and money laundering. The disgraced former CEO has also agreed to be extradited to the United States.