Stanford University will repay FTX funds

Stanford University allegedly received US$5.5 million from the crypto exchange FTX. The parents of the prime suspect, Sam Bankman-Fried are at the center of the FTX case.

Stanford University plans to return millions of dollars it received from bankrupt crypto exchange FTX. This is reported by Bloomberg and refers to email from a spokesperson for the university, which is in the possession of the news portal.

"We have been in discussions with the FTX debtors' lawyers to recover these donations and we will repay the funds in full.", let the spokesperson know.

FTX advisors file lawsuit

Sam Bankman-Fried's parents, Allan Joseph Bankman and Barbara Fried, are legal scholars and longtime professors at Stanford Law School. The news follows a lawsuit filed by FTX consultants against the parents. They allege that SBF's parents used their influence over FTX to enrich themselves.

"From November 2021 to May 2022, Bankman was in charge of channeling more than $5.5 million in donations from the FTX Group to his employer, Stanford University," the report said. according to a court indictment Monday. In October, Sam Bankman-Fried is due to stand trial on fraud charges.