Even in cases where the checks have cleared it is possible that the money will have to be returned. Here's a post by the managing counsel of Open Philanthropy,

Even in cases where the checks have cleared it is possible that the money will have to be returned. Here's a post by the managing counsel of Open Philanthropy, the other large funder in this space, describing some of the risks: https://forum.effectivealtruism.org/posts/o8B9kCkwteSqZg9zc/thoughts-on-legal-concerns-surrounding-the-ftx-situation https://forum.effectivealtruism.org/posts/o8B9kCkwteSqZg9zc/...