, has come under fire for staying mum about whether it will return the now-bankrupt crypto firm’s money.
After FTX imploded and filed for bankruptcy this month, there have been calls for Semafor to return the cash. Sam Bankman-Fried, founder and chief executive officer of FTX, invested in a slew of media companies, including Semafor.He continued that “legally” the issue is murky, but that “morally,” it seems “open and shut.”
Unless it just occurred, “returning” an equity investment isn’t always easy or possible. The money is invested to be spent, usually quickly.