FTX, the bankrupt cryptocurrency exchange, is seeking the return of nearly $5 million in donations from a California non-profit. The funds were allegedly used to purchase a former hotel that has since become a venue for controversial right-wing conferences.
The property, now known as Lighthaven, was acquired by Lightcone Infrastructure, a charity that promotes "longtermism," "rationalism," and "effective altruism." However, reports indicate the venue has hosted speakers associated with eugenics, scientific racism, and other fringe ideologies.
FTX claims the donations were made fraudulently and is demanding the money back. Court documents show FTX sent several million dollars to Lightcone Rose Garden, the LLC that owns the property, throughout 2022. The filing also details a separate $1 million loan for the purchase of the property itself.
Lightcone denies any wrongdoing and insists no FTX funds were used to acquire Lighthaven. The charity's director claims the escrow company holding the deposit for the property is attempting to return the funds to FTX. The situation remains unresolved with both parties set to appear in court.
You are not Signed in