{"id":440920,"date":"2023-09-20T12:11:39","date_gmt":"2023-09-20T12:11:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=440920"},"modified":"2023-09-20T18:14:02","modified_gmt":"2023-09-20T18:14:02","slug":"stanford-university-to-return-5-5-million-in-ftx-gifts-linked-to-sam-bankman-frieds-dad","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/stanford-university-to-return-5-5-million-in-ftx-gifts-linked-to-sam-bankman-frieds-dad","title":{"rendered":"Stanford University to Return $5.5 Million In FTX &#8216;Gifts&#8217; Linked To Sam Bankman-Fried&#8217;s Dad"},"content":{"rendered":"<p>Stanford University said it will return $5.5 million in &rdquo;gifts&rdquo; it received from crypto exchange FTX that were linked to the influence of founder Sam Bankman-Fried&rsquo;s father.<\/p>\n<p>It&rsquo;s decision comes after the FTX bankruptcy estate <a href=\"https:\/\/insidebitcoins.com\/news\/ftx-sues-bankman-frieds-parents-says-they-plundered-it-for-their-own-gain-and-pet-projects\">sued<\/a> Bankman-Fried&rsquo;s parents &ndash; Joseph Bankman and Barbara Fried &ndash; to &ldquo;recover millions of dollars in fraudulently transferred and misappropriated funds.&rdquo;<\/p>\n<p>&ldquo;We have been in discussions with attorneys for the FTX debtors to recover these gifts, and we will be returning the funds in their entirety,&rdquo; a spokesperson from Stanford University<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-19\/stanford-says-will-return-entirety-of-gifts-received-from-ftx\"> told<\/a> Bloomberg News.<\/p>\n<p>FTX accused Joseph Bankman and Barbara Fried of using their influence at FTX to &rdquo;enrich themselves, directly and indirectly, by millions of dollars,&rdquo; its lawyers said in a Sept. 18&nbsp;<a href=\"https:\/\/restructuring.ra.kroll.com\/FTX\/Home-DownloadPDF?id1=MjUyNzIzOA==&amp;id2=-1\">court filing<\/a>. Both are&nbsp; both professors at Stanford Law School.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEWS: Stanford University to return $5.5M in FTX donations, reportedly contributed by Joe Bankman, father of SBF.<\/p>\n<p>&#128240; <a href=\"https:\/\/t.co\/iJVTndtwvR\">https:\/\/t.co\/iJVTndtwvR<\/a> <a href=\"https:\/\/t.co\/HpjbzbkpI5\">pic.twitter.com\/HpjbzbkpI5<\/a><\/p>\n<p>&mdash; CoinGecko (@coingecko) <a href=\"https:\/\/twitter.com\/coingecko\/status\/1704324832819859745?ref_src=twsrc%5Etfw\">September 20, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The filing also said that between November 2021 and May 2022, Bankman &rdquo;led the charge in directing FTX Group donations of more than $5.5 million to his employer, Stanford University.&rdquo; Bankman served as a senior advisor to the FTX Foundation, the philanthropic division of the FTX exchange.<\/p>\n<p>Stanford said the gifts it received from the FTX Foundation and other FTX-related companies were used for pandemic-related prevention and research.<\/p>\n<h2>Bankman-Fried&rsquo;s Parents Deny Charges Of Misappropriating FTX Funds<\/h2>\n<p>Lawyers representing Bankman and Fried said the FTX allegations against their clients are &rdquo;completely false&rdquo; and &ldquo;a dangerous attempt to intimidate Joe and Barbara and undermine the jury process just days before their child&rsquo;s trial begins.&rdquo;<\/p>\n<p>Bankman-Fried&rsquo;s trial on fraud charges is scheduled to begin next month.<\/p>\n<p><span style=\"font-size: calc(1.3rem + 0.6vw);background-color: var(--bs-body-bg);color: var(--bs-body-color);font-family: var(--bs-body-font-family);text-align: var(--bs-body-text-align)\">Related Stories:<\/span><\/p>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/bitcoin-investors\/sam-bankman-fried-net-worth\">Sam Bankman-Fried Net Worth, Crypto and NFT Investments<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/the-collapse-of-ftx-was-criminal-not-accidental\">The collapse of FTX was criminal, not accidental<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/ftx-wallet-moves-10-million-in-altcoins-are-more-token-dumps-coming\">FTX Wallet Moves $10 Million in Altcoins &ndash; Are More Token Dumps Coming?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/us-justice-department-wants-key-sam-bankman-fried-jury-questions-thrown-out\">US Justice Department Wants Key Sam Bankman-Fried Jury Questions Thrown Out<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 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Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1948,"featured_media":407487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-440920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stanford University to Return $5.5 Million In FTX &#039;Gifts&#039; Linked To Sam Bankman-Fried&#039;s Dad - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Stanford University said it will return $5.5 million in &#039;&#039;gifts&#039;&#039; it received from crypto exchange FTX linked to Sam Bankman-Fried&#039;s father.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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