RED FLAGGED

Semafor Set to Buy Out Sam Bankman-Fried’s $10M Investment: Report

The fledgling company is just the latest media outlet looking to return the fallen crpyto mogul’s cash.

Semafor is looking to buy out Sam Bankman-Fried’s estimated $10 million investment in the news start-up, according to a report. The FTX boss, who is facing allegations of orchestrating a colossal fraud worth billions, made the single biggest outside investment in Semafor, which launched in 2022. “We are planning to repurchase Sam Bankman-Fried’s interest in Semafor and to place the money into a separate account until the relevant legal authorities provide guidance as to where the money should be returned,” Justin Smith, Semafor’s co-founder and chief executive, told the New York Times. Semafor’s fundraising efforts have yet to yield any investments however, the Times reports. Other media companies including ProPublica and Vox Media had already vowed to return contributions from Bankman-Fried in the wake of his arrest last month.