FTX seeks to reclaim $71 million from its charitable arm and other life sciences institutions.

According to BlockBeats news on July 20th, the bankrupt cryptocurrency exchange FTX and its sister company Alameda hope to recover more than $71 million from FTX's charity department and other life science institutions. This is the latest move by the bankrupt company to recover funds for its customers. Lawyers stated that the FTX Foundation collaborated with Latona to obtain approximately $71.5 million from FTX and Alameda Research, "for investment and donations to life science companies to fulfill Bankman-Fried's personal desires." The lawyers stated in the documents that, "although these investments are claimed to be for altruistic purposes (i.e. preventing and preparing for epidemics), in reality, Bankman-Fried conducted these transactions because he believed that doing so would generate goodwill and accumulate political capital and influence for himself."