Polaris Ventures, a charity created by former FTX and Alameda chief Ruairi Donnelly, reportedly wants access to approximately $150 million raised from insider trading of the exchange’s tokens.
As the Wall Street Journal reported Feb. 14, Donnelly receiveThe estimated salary of $562,000 during his time at FTX was the FTX (FTT) token priced at $0.05, and the ex-executive ‘donated’ the token to Polaris Ventures in 2019 and 2020. After being publicly traded at $1 and making millions of dollars.
FTX filed for Chapter 11 bankruptcy in November 2022, at which time many wallets and funds linked to the exchange were seized by authorities or suspended for legal action. Donnelly reportedly seeks access to $150 million amid public scrutiny of FTX and Alameda and their former CEO.
Donnelly’s legal team says the charity’s FTT tokens The exchange’s debtor’s side said on Dec. 19 that they would “Deal for the refund” of funds donated to charities or political campaigns and recommends taking legal action to receive the money plus interest if any group refuses.
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