Stanford Will Return ‘Entirety’ of Gifts Received From FTX (1)

Stanford University plans to return millions of dollars it received from bankrupt crypto exchange FTX and related entities, a university spokesperson said in an emailed statement.

“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,” the spokesperson said.

The news comes on the heels of a lawsuit from FTX advisers — attempting to recover funds owed to customers of the bankrupt exchange — alleging the parents of co-founder and former Chief Executive Officer Sam Bankman-Fried exploited their influence over FTX to “enrich themselves, directly ...