New York’s Metropolitan Museum of Work plans to reach support $550,000 in donations it received from collapsed crypto alternate FTX.

The museum confirmed its scheme to repay FTX in a motion published on June 2 within the U.S. Economic atomize Court for the District of Delaware.

“The Met wants to reach support the Donations to the FTX Debtors, and the FTX Debtors and the Met have engaged in genuine faith, arm’s length negotiations in regards to the return of the Donations,” mentioned the counsel for the debtors and debtors-in-possession within the submitting.

FTX donated $300,000 to the Met in March of closing year adopted by an additional $250,000 in Can also. That very same month FTX’s head of international vogue and luxury partnerships Lauren Remington Platt attended the infamous Met Gala carrying a customized FTX necklace. The necklace modified into later auctioned off at the Amfar Gala in Cannes and offered for $133,827, per Vogue.

The donations to Met were made below West Realm Shires Providers, which is the subsidiary that ran FTX.US.

The transfer comes as FTX seeks to retrieve donations that were made to politicians and nonprofit organizations. FTX’s founder and used CEO Sam Bankman-Fried modified into successfully-identified for his philanthropic efforts where he promised thousands and thousands to rather a pair of nonprofits. He’s estimated to have spent $93 million on political donations, per court filings.

FTX’s recent administration is now looking to claw support these donations to wait on repay collectors who’re impacted by the alternate’s crumple.

The court will light desire to approve this motion. The total counsel for the debtors mentioned: “The phrases of the proposed stipulation drop successfully sooner or later of the vary of reasonableness and desires to be popular by the court.”

“The stipulation offers the Debtors’ estates and their stakeholders with a restoration of 100% of the donations, without litigation and the essential charges attendant thereto,” they added.

A listening to on the motion will happen on June 28.