According to Bloomberg, Stanford University, which is based in California, announced that it will give back all the money it got from FTX, a cryptocurrency exchange that has shut down.
Stanford said that most of the donations from FTX and its affiliates were for research and prevention related to the pandemic.
The former CEO of FTX, Sam “SBF” Bankman-Fried, has two parents who are both law professors at Stanford Law School. Their names are Alan Bankman and Barbara Fried.
Stanford decided to reject FTX’s support after SBF’s parents were accused of stealing millions from the crypto exchange.