ProPublica, the nonprofit investigative news outlet, will return the $1.6 million in funds it received from Sam Bankman-Fried’s family foundation, according to a staff memo obtained by Axios.
Why it matters: The crumbling of Bankman-Fried’s empire as he faces criminal charges is putting various media companies that have taken his money in a bind.
Details: In the note to staff, ProPublica president and co-CEO Robin Sparkman and editor-in-chief and co-CEO Stephen Engelberg said the company will be returning the money from Bankman-Fried’s family foundation called Building a Stronger Future because “it does not seem appropriate to keep these funds.”
[That raises the heat on Semafor, which reportedly took about three times as much cash from SBF. — Ed]
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