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 <p class="is-style-lead">Stanford University intends to return all funds donated by the crypto trading company and related entities like Bankman-Fried’s hedge fund Alameda Research.</p> 
 <p class="is-style-default">A spokesperson for the prestigious California-based university told Bloomberg lawyers wanted to return millions received from Sam Bankman-Fried’s FTX to the defunct crypto exchange debtors.</p> 
 <p>A lawsuit alleged that FTX accounts transferred around $5.5 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> to Stanford.&nbsp;</p> 
 <p>At least one other entity has pledged to return funds received from FTX. In June 2023, the Metropolitan Museum of Art shared plans to surrender $500,000. Bankruptcy administrators have also mentioned several clawback missions in court filings.</p> 
 <h2 class="wp-block-heading" id="ftx-sues-sbf-s-parents">FTX sues SBF’s parents</h2> 
 <p>FTX administrators sued Joseph Bankman and Barbara Fried to recover millions in diverted funds, crypto.news reported on Sep. 19. Notably, both parents were Standford law professors for over three decades.&nbsp;</p> 
 <p>According to court filings, FTX, under SBF, shelled out <a rel="noopener noreferrer nofollow" title="millions" href="https://thebittimes.com/tag/millions.html">millions</a> to finance luxurious personal expenses for Joseph and Barbara, including a $16.4 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> Bahamas property. Also, the pair allegedly <a rel="noopener noreferrer nofollow" title="received" href="https://thebittimes.com/tag/received.html">received</a> at least $10 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in cash gifts.</p> 
 <div class="cn-block-related-link"> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> FTX incurs over $120m in advisor fees as bankruptcy costs mount 
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 <p>FTX’s estate argued that Bankman-Fried’s parents knowingly benefitted from their son’s fraud and should be held culpable.</p> 
 <p>The November 2022 collapse of SBF’s crypto exchange reverberated throughout the digital asset industry, tumbling market prices and morphing into a lengthy criminal trial.</p> 
 <p>FTX’s bankruptcy regime led by John Ray III reportedly spends <a rel="noopener noreferrer nofollow" title="millions" href="https://thebittimes.com/tag/millions.html">millions</a> in legal fees every month as the company works to plug a $8 billion hole left by SBF and his executives.</p> 
 <p>The beleaguered company had recovered $7 billion in assets as of June 2023. A court also approved $100 million in weekly asset liquidations as FTX hopes to secure liquidity and repay customers.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Delaware Judge allows FTX to sell up to $100 million of coins every week 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/stanford-university-to-return-millions-received-from-ftx-tbt63334.html">https://thebittimes.com/stanford-university-to-return-millions-received-from-ftx-tbt63334.html</a></p>

Stanford University to return millions received from FTX

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