Stanford University plans to return millions of dollars it received from the now-bankrupt crypto exchange FTX and its affiliate companies, according to Bloomberg,
This decision comes amidst a lawsuit from FTX advisers seeking to reclaim funds owed to the exchange’s customers. The lawsuit alleges that Allan Joseph Bankman and Barbara Fried, parents of FTX co-founder and former CEO Sam Bankman-Fried, exploited their influence over FTX to directly and indirectly enrich themselves with millions of dollars. Bankman and Fried are legal scholars and longtime professors at Stanford Law School.
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