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Sam Bankman - 3 Fried - 3 Barbara Fried - 2 Bankman - 2 FTX - 2 — Allan Joseph Bankman - 1 Stanford - 1 ” - 1
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9 mentions found


☆ Stanford University says it will return the 'entirety' of millions of dollars in gifts it received from bankrupt crypto firm FTX
  + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com   time to read: +3 min
Stanford University has said it plans to return millions of dollars in gifts it received from FTX. According to a lawsuit, the university received $5.5 million from the now-bankrupt crypto firm. Co-founder Sam Bankman-Fried's parents both held teaching roles at the prestigious California university. A spokesperson for Stanford University responded to the lawsuit in an emailed statement to Bloomberg: "Stanford received gifts from the FTX Foundation and FTX-related companies largely for pandemic-related prevention and research." AdvertisementAdvertisementInsider contacted Stanford University for comment but did not immediately hear back outside of regular working hours
Persons: Sam Bankman, — Allan Joseph Bankman, Barbara Fried, Bankman, Stanford, Fried Organizations: Stanford University, Service, Bloomberg News, CNN, Stanford, FTX Group, Bloomberg, FTX Foundation, FTX, Alameda Research Locations: FTX, California, Wall, Silicon, Bahamas, Brooklyn
☆ Stanford University says it will return all gifts from bankrupt crypto exchange FTX
  + stars: | 2023-09-19 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
New York CNN —Stanford University said it will be returning gifts it received from bankrupt crypto exchange FTX “in their entirety,” after a lawsuit against founder Sam Bankman-Fried’s parents alleged the school received millions of dollars in donations. The school said it received the gifts from the FTX Foundation and its related companies “for pandemic-related prevention and research,” a Stanford spokesperson said. “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. Bankman donated more than $5.5 million in FTX Group donations to his employer, Stanford University, the lawsuit alleges. FTX went bankrupt last November as questions about its finances rattled crypto markets and prompted a sudden, massive drawdown of customer funds.
Persons: Sam Bankman, ”, “, FTX, Joe Bankman, Barbara Fried, Bankman, Fried, Joe, Barbara Organizations: New, New York CNN — Stanford University, FTX Foundation, Stanford, FTX Group, Stanford University Locations: New York
☆ FTX planned to purchase the Pacific island nation of Nauru to build an apocalypse bunker, lawsuit says
  + stars: | 2023-07-21 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
FTX is suing Sam Bankman-Fried and other former bosses for $1 billion. SBF's brother discussed turning the island country of Nauru into an apocalypse bunker, the suit says. FTX wanted to purchase the Pacific island nation of Nauru to build a bunker in case of an apocalyptic event, according to a new lawsuit. The complaint says that the FTX founder's brother, Gabriel Bankman-Fried, discussed with an officer for the FTX Foundation a scheme to purchase the country of Nauru. A spokesperson for Sam Bankman-Fried did not immediately return Insider's request for comment.
Persons: FTX, Sam Bankman, John J, Ray III —, Gabriel Bankman, Gabe Bankman, Fried Organizations: FTX, EA, FTX Foundation, Twitter Locations: Nauru, It's, Australia
☆ Collapse of FTX deprives academics of grants, stokes fears of forced repayment
  + stars: | 2023-04-06 | by ( Elizabeth Howcroft | Thomson Reuters | Reports On The Intersection Of Finance | ) www.reuters.com   time to read: +6 min
Launched in February 2022, the FTX Future Fund was part of the FTX Foundation, the philanthropic arm of Sam Bankman-Fried's crypto empire which fell apart last year, in what U.S. prosecutors called an "epic" fraud. Representatives for FTX also declined to comment and declined to say whether the FTX Foundation is included in the bankruptcy proceedings. The FTX Future Fund supported research into topics that "improve humanity's long-term prospects" and was funded primarily by Bankman-Fried, according to a profile of its activities published on Twitter. FTX's statement did not reference the FTX Future Fund specifically. One FTX Future Fund beneficiary in the U.S., who asked not to be named, said they received a grant of more than $150,000.
☆ Sam Bankman-Fried was the poster boy for 'effective altruism.' Now, its followers are heartbroken and critics are questioning its 'weird' funding setup.
  + stars: | 2022-12-03 | by ( Grace Dean | ) www.businessinsider.com   time to read: +8 min
Sam Bankman-Fried was a proponent of effective altruism: earning as much as possible to give your wealth away. He had a huge influence on the effective-altruism movement, which counts Silicon Valley tech workers and Oxford University academics among its fans. 'Devastated'Bankman-Fried was the main funder of Future Fund, a charitable project run by the FTX Foundation. "We joined the Future Fund to support incredible people and projects," they said, "and this outcome is heartbreaking to us." Science groups that had received money from the Future Fund told the magazine Science in mid-November that they were unsure of their funding's future.
☆ The Moral Vanity of Sam Bankman-Fried
  + stars: | 2022-12-01 | by ( Daniel Henninger | ) www.wsj.com   time to read: 1 min
The Covid-19 pandemic may have ended in the U.S., but there is no vaccine yet for this country’s pandemic of moral vanity. Its latest victim is FTX founder Sam Bankman-Fried . As his cryptocurrency company’s value soared into vaporous billions, Mr. Bankman-Fried said he wasn’t in it for the money. He described himself as a proponent of “effective altruism,” or high-return charity, an idea he learned while at MIT from a philosophy graduate student. Mr. Bankman-Fried, 30, said he might keep 1% for himself and give the rest away through his FTX Foundation.
☆ FTX pledged $600,000 to an anti-racist non-profit, but the money never arrived and Sam Bankman-Fried's father wrote to apologize
  + stars: | 2022-11-25 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
Sam Bankman-Fried's father offered anti-racist program EAT $600,000 on behalf of FTX. SBF's father told the charity he was "heartbroken," but was spending his money on his son's defense. Sam Bankman-Fried's father, Joseph Bankman, recommended programs that help close the racial wealth gap that he thought FTX should donate to. But when FTX filed for bankruptcy on November 11, Bankman wrote to Wallace to express his sadness that the money wouldn't come through. Bankman, Wallace, and FTX did not respond to Insider's request for comment.
☆ Fact Check-TOGETHER Trial says involvement with FTX began after testing that found ivermectin ineffective
  + stars: | 2022-11-22 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +6 min
Amid news surrounding failed cryptocurrency firm FTX, social media users are pointing to FTX having funded the TOGETHER Trial, a research consortium that studied ivermectin as a COVID-19 treatment and found it to be ineffective. But FTX did not interact with the research group until after the ivermectin trial was over, a TOGETHER Trial spokesperson told Reuters. An Instagram user shared an image that said, “Holy crap look who funded the trial that said Ivermectin didn’t work” (here). Similar claims surrounding FTX’s involvement with the TOGETHER Trial are viewable (here) and (here). FTX is not named as a contributor to the ivermectin trial because they weren’t involved, according to Mills, who added that the same is true of hydroxychloroquine and the other medications TOGETHER Trial investigated during the pandemic.
☆ Sam Bankman-Fried wishes 'we'd bitten off a lot less' after distressed crypto exchange FTX imploded: NYT
  + stars: | 2022-11-15 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
FTX founder Sam Bankman-Fried told the New York Times he had his fingers in too many pies. Seemingly apologetic, he said he was doing too many things and didn't catch signs of troubles at FTX. FTX filed for bankruptcy on Friday after it was caught in a week-long liquidity crisis. Other than running the FTX exchange as CEO — a position he relinquished on Friday — he was also involved in a range of other activities such as founding the non-profit FTX Foundation, investing in other companies, and making political donations. Bankman-Fried told the Times he wished "we'd bitten off a lot less."
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