Digital media company will reportedly buy back SBF’s $10 million investment in the company, will seek to raise funds for growth from other sources.
The $10 million was part of a $25 million seed funding round that allowed Semafor to get started with its news site, which launched in October, 2022.by the failed crypto exchange and its executives.the investment on December 2, but at the time it had not committed to returning the money, saying only that it would consult with attorneys and government agencies before deciding what to do next.
Sam Bankman-Fried was a frequent contributor to politicians and media groups, and critics have accused him of attempting to use these contributions to influence the narrative about his companies. Some companies have sought to distance themselves from him and his firms since the crypto exchange he founded went bankrupt.
FTX filed for bankruptcy in November, 2022 after suffering a liquidity crisis that prevented it from being able to honor withdrawals. SBF himself has been arrested on fraud charges, and
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