Stanford University to return millions in donations from FTX

Stanford University reportedly plans to return the millions of dollars it received in charitable contributions from Sam Bankman-Fried’s crypto firm FTX before its spectacular collapse.

The alleged fraudster’s parents — Joseph Bankman and Barbara Fried, longtime professors at Stanford Law School — allegedly pushed the crypto exchange and its related entities to donate “more than $5.5 million” to the elite school “to boost Bankman and Fried’s professional and social status at the expense of the FTX Group,” according to a lawsuit brought by the bankrupt firm’s advisors in Delaware bankruptcy court.

Source: Stanford University to return millions in donations from FTX