Stanford University Vows to Return $5.5M FTX Donations; Funds Initially Allocated for Pandemic Prevention

In the aftermath of a suit targeting the parents of Sam Bankman-Fried, Stanford University’s spokesperson has announced intentions to springiness backmost the millions garnered from FTX and its affiliates. Records bespeak that a whopping $5.5 cardinal successful gifts to Stanford traces backmost to the FTX empire.

FTX’s Pandemic Protection Push Pauses: Stanford Announces Donation Reversal Amid Legal Drama

Nestled successful Stanford, California, Stanford Law School ranks among the nation’s premier instrumentality institutions, renowned for its progressive stance. A caller Bloomberg report reveals that FTX is retracting $5.5 cardinal successful contributions made to the assemblage done some the institution and its high-ranking officials.

The parents of Sam Bankman-Fried, Joseph Bankman and Barbara Fried, forged their narration astatine Stanford University, crossing paths arsenic educators successful 1988. Bankman presently holds the rubric of Ralph M. Parsons prof of Law and Business astatine Stanford Law School, portion Fried is designated arsenic the William W. and Gertrude H. Saunders prof astatine the university.

“We person been successful discussions with attorneys for the FTX debtors to retrieve these gifts and we volition beryllium returning the funds successful their entirety,” a assemblage spokesperson told Bloomberg reporters Amelia Pollard and Jonathan Randles connected Tuesday. The school’s spokesperson added:

Stanford received gifts from the FTX Foundation and FTX-related companies mostly for pandemic-related prevention and research.

FTX’s committedness to pandemic prevention runs deep, notably with SBF’s sibling, Gabe Bankman-Fried, astatine the helm of “Guarding Against Pandemics” (GAP). Reports suggest that FTX’s important fiscal backing powered GAP, and arsenic the Washington Post highlighted, the radical allocated $1 cardinal to power Congress and brought connected 26 lobbyists.

The latest revelation from Stanford comes connected the heels of a lawsuit targeting Bankman-Fried’s parents, alleged to person profited handsomely from FTX’s coffers. The brace of Stanford instrumentality professors staunchly refute the allegations aimed astatine them.

What bash you deliberation astir Stanford returning millions it reportedly received from FTX? Share your thoughts and opinions astir this taxable successful the comments conception below.