Stanford University Severs Ties with FTX, Returns All Gifts Amid Bankruptcy

  • last year
Stanford University is returning all gifts received from bankrupt cryptocurrency exchange FTX, according to a spokesperson. Stanford had received donations from FTX founder Sam Bankman-Fried over the years, though it's unclear exactly how much. The university spokesperson said all gifts from FTX and its executives will be returned or redirected in light of the exchange's bankruptcy. The move comes after FTX sued Sam Bankman-Fried's parents to recoup funds they allegedly ordered transferred from his companies to Stanford University where they are law professors.
Transcript
00:00 Benzinga and here's what's on the block. Stanford University is returning all
00:04 gifts received from bankrupt cryptocurrency exchange FTX according
00:08 to a spokesperson. Stanford had received donations from FTX founder Sam
00:13 Bankman-Fried over the years though it's unclear exactly how much. The university
00:18 spokesperson said all gifts from FTX and its executives will be returned or
00:22 redirected in light of the exchange's bankruptcy. The move comes after FTX
00:28 sued Sam Bankman-Fried's parents in an effort to recoup funds they allegedly
00:32 ordered transferred from his companies to Stanford University where they are
00:36 law professors. For all things money visit Benzinga.com

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