”The company intends to redeem the investment,“ an individual with knowledge told TheWrap

Semafor, the global media company launched by Justin Smith and Ben Smith just two and a half months ago, plans to return the investment it took from accused crypto entrepreneur Sam Bankman-Fried, an individual familiar with the matter told TheWrap.

“The company intends to redeem the investment,” the individual said, who took care not to use the word “return,” but could not specify the difference between redeeming or simply returning the investment.

(By SHARON WAXMAN)