Cryptocurrency Exchange FTX Demands Return of $5 Million Used for Controversial Property Purchase

• FTX demands return of $5M used for right-wing events at former hotel.
• Property now owned by Lightcone Infrastructure hosts conferences for Silicon Valley supporters.
• Guests at recent event included supporters of eugenics and scientific racism.
• FTX sent $4.9M to Lightcone, including a $1M deposit not repaid.
• FTX filed a complaint against CFAR and Lightcone for ignoring attempts to recover funds.
• Effective Ventures charity acted diligently after FTX collapse, according to probe.

Summary :
Cryptocurrency exchange FTX is demanding the return of $5 million that it claims was used to fund the purchase of a former hotel in Berkeley, California. The property, now owned by non-profit Lightcone Infrastructure, hosts conferences for supporters of 'longtermism,' 'rationalism,' and 'effective altruism.' However, The Guardian reports that right-wing fringe groups, including supporters of eugenics and scientific racism, have spoken at these events. FTX sent multiple wire transfers totaling $4.9 million to the owners of the property, but attempts to recover the funds have been ignored. A court filing has summoned the owners to appear in court to address FTX's complaint. Lightcone's director denies using FTX funds for the purchase and claims that the money is still with the escrow company. The prediction market-focused conference, Manifest 2024, recently took place at the venue, featuring controversial speakers. The situation is ongoing, and FTX is seeking the return of the funds.

Sources :

- Protos