Media Organizations To Return Grants By SBF

After the charges were filed by the justice department, the media companies that received money from the former FTX CEO, SBF, or his foundations, are freezing the cash.

ProPublica, a non-profit organization, on Tuesday, announced that they will be returning the 1.6 million USD that they got from SBF’s foundation, Building A Stronger Future.

Vox Media was given 200,000 USD by SBF’s family foundation and the company has also decided to return all the money.

The news organization Intercept is reconsidering the grant of 500,000 USD that was given to them as a part of a 4 million USD grant. “

The company Semafor accepted SBF’s grant in the month of May, this year with the hope that they would be able to carry independent journalism. However, they are reconsidering and waiting for the authorities to take a decision.

The funding, investments, and generous gifts made by SBF to newsrooms were part of a larger pattern that included roughly $40 million in political donations this cycle.

(By Shourya Jha)

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