, 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.”
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Unless it just occurred, “returning” an equity investment isn’t always easy or possible. The money is invested to be spent, usually quickly.