Nonprofit investigative news outlet ProPublica will return about $1.6 million in funding provided by Building a Stronger Future, the foundation associated with Sam Bankman-Fried following his arrest in the Bahamas, Axios reports.
Bankman-Fried, the founder and former CEO of cryptocurrency company FTX, was arrested last week on various charges, including wire fraud and multiple conspiracy charges relating to fraud, money laundering, and campaign finance violations.
ProPublica president and co-CEO Robin Sparkman and editor-in-chief and co-CEO Stephen Engelberg informed the staff in a statement that, with support from the board, the company will return the funds it received from Bankman-Fried’s family foundation Building a Stronger Future, saying, “it does not seem appropriate to keep these funds.”
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