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[1/2] People walk past election campaign posters ahead of snap parliamentary election, scheduled on July 11, in Chisinau, Moldova July 7, 2021. Pro-European President Maia Sandu has denounced Russia's invasion of Ukraine and accused Moscow of plotting to oust her in a coup. "Thanks to your vote, Moldova has a chance to become a member of the European family. The national security service has accused Shor of helping funnel 1 billion Moldovan lei ($55.60 million) into Moldova to stage anti-government protests during the war in Ukraine and to "buy" voters. Shor said he was sending the money to Moldova to help pensioners, finance social infrastructure projects and some politicians.
Persons: Vladislav Culiomza, Maia Sandu, Ilan Shor, Shor, Ion Ceban, Lilian Carp, Sandu, Yuliia Dysa, Tom Balmforth, Ros Russell Organizations: REUTERS, Rights, European Union, funneling, of Action, Solidarity, PAS, Russian, Moldovan, Constitutional, Chance Party, Thomson Locations: Chisinau, Moldova, Rights CHISINAU, Moscow, Soviet, Ukraine, Russia
It is a type of scheme that took down New York’s lieutenant governor last year, and sank the 2013 mayoral campaign of a top Democratic contender: the use of so-called straw donors to funnel illegal contributions to candidates from secret sources. Now, for the second time, the campaign of Mayor Eric Adams is being scrutinized for the same thing. And in July, six men were indicted in Manhattan in connection with a similar scheme, accused of funneling thousands to Mr. Adams’s campaign. Neither Mr. Adams nor Ms. Suggs have been accused of wrongdoing, and Mr. Adams has denied any knowledge of illegal contributions. But both investigations appear to be focused on whether donors who were eager to get Mr. Adams’s attention sought to mask large donations by funneling them through straw donors — and on who might have coordinated that effort.
Persons: Eric Adams, Brianna Suggs, Adams’s, Adams, Suggs Locations: Turkish, U.S, Manhattan
One top official in Moscow was fuming as he claimed the West was "luring" its "neighbours, friends, and allies" away from Russia. Moscow's disdainThe French leader's comments are likely to have enraged Moscow, which is already watching Western efforts to court Central Asia with suspicion and disdain. "Look at how Western powers are wooing Central Asia," Lavrov told the BelTA news agency, in comments published by Russia's Foreign Ministry. "They have created numerous formats such as 'Central Asia plus' involving the United States, the EU, and Japan ... On top of the Central Asia plus EU format, the Germans have created their own format. China's roleThere's certainly a tussle for influence that's taking place in Central Asia, with China also "courting" the region to a certain extent.
Persons: Vladimir Putin, Emmanuel Macron, Macron, Kassym, Sergei Lavrov, Lavrov, Ilham Aliyev, Serdar Berdimuhamedow, Emomali Rahmon, Alexander Lukashenko, Mark Galeotti, Galeotti, we've, Ed Jones, There's, Joe Biden, Jim Watson, Alexander Titov, Russia's, Xi Jinping, Gurbanguly Berdimuhamedov Organizations: Getty, Ukraine, Kazakh, CNBC, Russian, Central, Russia's Foreign Ministry, EU, Commonwealth of Independent States, Central Asia's, West, General, Afp, Georgia —, Queen's University of Belfast, U.S, Analysts, of, Forum, International Cooperation, Xinhua News Agency Locations: 13,2023, Bishkek, Kyrgyzstan, Russia, Moscow, Central Asia, Kazakhstan, Soviet, Astana, France, Uzbekistan, United States, Japan, Turkmenistan, Russian, London, Europe, China, Central, Ukraine, Central Asian, Tajikistan, New York City, Belarus, Donetsk, Kherson, Luhansk, Zaporizhzhia, North Korea, Nicaragua, Syria, South Caucasus, Armenia, Azerbaijan, Georgia, Latvia, Lithuania, Estonia, Moldova, Afghanistan, Beijing, People's, of Turkmenistan
But while gas shortages are unlikely in Europe this winter, the price of the fuel remains a worry. According to S&P Global, about one-fifth of global LNG supply travels through the channel on Iran’s south coast. In a less jittery market, neither incident may have had the effect it did, helping boost European gas prices by more than 40% over the course of a single week. High gas prices have presented a persistent economic headwind for Europe's biggest economy due to its reliance on energy-intensive industries. Together, these milestones should push European gas prices down to €30 ($32) per megawatt hour by the end of next year, Weatherburn added.
Persons: Asia —, Soeren, , Jack Sharples, Heikki Saukkomaa, Simone Tagliapietra, Bill Weatherburn, Stefan Sauer, Weatherburn, Organizations: London CNN, European Union, International Energy Agency, EU, Getty, , Oxford Institute of Energy Studies, CNN, Hamas, P, Chevron, Egyptian, Steam, , Capital Economics, Qatar, Energy Locations: Russia, Moscow, Ukraine, Europe, North America, Asia, Norway, Hungary, Austria, Azerbaijan, Algeria, Germany, Israel, Gaza, Hormuz, Jordan, Egypt, Cairo, Estonia, Australia, AFP, , ” Europe, France, Italy, Lubmin, Pomerania, United States, Qatar
The 31-year-old onetime crypto mogul fumbled for an answer when the prosecutor, Danielle Sassoon, repeatedly asked whether he had told his employees not to spend FTX customer money on investments, pricey real estate and other expenditures. Mr. Bankman-Fried also couldn’t name any employees who might have authorized the use of FTX customer money for that spending. “I don’t recall giving any direction,” Mr. Bankman-Fried said three times about the spending of FTX customer money before he concluded his testimony. Both sides rested their case before lunchtime on Tuesday, with closing statements set to unfold on Wednesday. Mr. Bankman-Fried was on the stand for a third day testifying before a jury in his own defense for a trial that has come to symbolize the highs and lows of the volatile crypto industry.
Persons: Sam Bankman, Danielle Sassoon, Fried, ” Mr Organizations: Alameda Research Locations: Alameda
Russia launched its first major offensive in months on the village of Avdiivka — but it's not going well. Western observers have remarked on large Russian losses around Avdiivka, where Russia has failed to make significant advances despite committing large numbers of troops and vehicles. AdvertisementAdvertisementBailey pointed to Russia's efforts in Vuhledar, another town nearby, where Russian attacks ended in defeat and huge tank losses earlier this year. Russia launched its assault on Avdiivka, in Ukraine's eastern Donetsk region, on October 10, Ukraine said. Ukrainian units have shared footage of intense fighting and destroyed Russian vehicles.
Persons: it's, Russia hasn't, , Riley Bailey, Avdiivka, Bailey, Vladimir Putin, ISW Organizations: Service, Institute for, Mechanized Brigade, Russia, Atlantic Council Locations: Russia, Ukraine, Ukrainian, Avdiivka, Vuhledar, Avdiivka ., Ukraine's, Donetsk
High-yield savings accounts have seen huge APYs in recent times, but those rates may not last forever. Earn top savings rates and manage it all with a single secure login. But when should you ease up on your savings accounts and consider investing your money instead? That can make investing much more attractive than a savings account — even in a high-yield savings account — if you have a longer time horizon. Alternatives to HYSAsYou don't have to decide between a savings account and investing in a retirement savings account — like a 401(k) or an IRA — or a taxable brokerage.
Persons: , Banks, Laura Mattia, Steve Oniya, Oniya, Tony Corsino, Mattia, you'd Organizations: Treasury, Service, Federal Reserve, Advisors, OM Investments, Zen Financial
Lululemon founder Chip Wilson is battling FSHD, a rare form of muscular dystrophy. He's investing $100 million into finding a cure through his venture philanthropy fund, Solve FSHD. AdvertisementAdvertisementLululemon founder Chip Wilson has been battling a rare muscular disease for the past several decades, and he's funneling $100 million of his multibillion net worth into finding a cure. Wilson suffers from an even more uncommon form called FSHD2 that impacts just 5% of those with the disease, Bloomberg noted. Solve FSHD did not immediately respond to Insider's request for a comment.
Persons: Chip Wilson, FSHD, He's, Wilson Organizations: Morning, Bloomberg, FSHD Society, China's, Anta, Products, Amer Sports
Financial analyst Kevin Paffrath criticized Elon Musk's comments on Tesla's recent earnings call. AdvertisementAdvertisementIt's now clear that Tesla's third-quarter earnings call on Wednesday didn't exactly go as expected. CEO Elon Musk acted like "a little baby," financial analyst and YouTuber Kevin Paffrath recently told Yahoo Finance. He also described the call as "terrible" and said Musk was "almost in tears" at one point. Kevin Paffrath hit out at Elon Musk's comments on the Tesla earnings call.
Persons: Kevin Paffrath, Elon Musk's, Musk, , Elon Musk, Paffrath, Kevin, Tesla's, Tesla, who's, YouTube Tesla, Dan Ives Organizations: EV, Service, Yahoo Finance, Kevin YouTube, Elon, YouTube, Wedbush Securities Locations: Mexico
The arguments in the Michel case could preview issues to come as the technology makes a rapid advance. “We think AI technology is gong to completely revolutionize the legal field by making it faster and cheaper to get complex answers to legal questions and research,” Katz said. “At bottom, the AI program failed Kenner, and Kenner failed Michel. Using it for closing arguments is complicated because of the many factors that develop over the course of a trial, he said. Generative AI, meanwhile, also sometimes produces “hallucinations,” statements that initially read as if they are accurate but are not.
Persons: ” Michel, Michel, David Kenner, Suge Knight, Snoop Dogg, Kenner, Diddy, Peter Zeidenberg, It's, Neil Katz, , ” Katz, Sharon Nelson, “ It's, , Zeidenberg, Barack Obama’s, Trump, Leonardo DiCaprio, Jeff Sessions, John Villasenor Organizations: WASHINGTON, , Associated Press, Sensei Enterprises, Justice Department, U.S, University of California, American Bar Association Locations: Malaysian, China, Los Angeles
He testified at the Sam Bankman-Fried trial that he was 'suicidal' over the crypto scam. AdvertisementAdvertisement"I've always been intimidated by Sam," Singh testified Monday. Before the September 2022 realization that Alameda was taking FTX customer money, Singh had participated in fraudulent activity in other ways. When he returned, the FTX CEO told Singh that he believed he could get $5 billion more in investments, Singh testified. As the chaos continued to roil FTX, Bankman-Fried, Ellison, and other executives pointed fingers at each other while employees and customers demanded answers, Singh said.
Persons: Nishad Singh, Sam Bankman, , Singh, Gary Wang, Caroline Ellison, Wang, Fried, unsurprised, Ellison —, Ellison, FTX wouldn't, he'd, Gabe Bankman, Adam Yedidia, Singh —, Ryan Salame —, Singh's, Sam, FTX, Mary Altaffer, Anthony Scaramucci, Seth Wenig, Salame —, funneling, Coindesk, FTX —, Binance, Jane Rosenberg Bankman, Bankman, I'd, roil Organizations: Service, Alameda Research, Bankman, Alameda, AP, Democratic, Prosecutors, REUTERS Locations: Alameda, FTX, Bahamas, Manhattan, New York, Bankman
Eventually, according to Ellison, Bankman-Fried chose the one that omitted a line saying "FTX borrows," hiding $10 billion in borrowed customer money. When asked by Sassoon why she continued with the scheme, Ellison said, "Sam told me to." She said Bankman-Fried told her she should have hedged and, "speaking loudly and strongly," said it was her fault. CEO Sam Bankman-Fried Bloomberg | Bloomberg | Getty ImagesEllison then went into her own emotional state. After all the movement of FTX money, the company only had $4 billion to cover $12 billion in customer holdings, she said.
Persons: Caroline Ellison, Yuki Iwamura, Sam Bankman, Saudi Crown Prince Mohammed bin Salman, Ellison, Fried, Danielle Sassoon, Genesis, Gary Wang, Nishad Singh, Bankman, FTX, Mark Cohen, District Judge Lewis Kaplan, Jane Rosenberg, Sassoon, Sam, Mohammed bin Salman, Jane Street, Slack, she'd, who'd, sloppily Organizations: Alameda Research, Bloomberg, Getty, Saudi Crown, U.S, District, Federal Court, Reuters, Stanford, Bankman, Wall, Alameda, New York Times, MBS, Vox, Forbes, Twitter, Toyota Corolla, Fried Bloomberg Locations: New York, Bankman, Alameda, FTX, New York City, U.S, San Francisco Bay, Saudi, Japan
From a courthouse in downtown Manhattan, Ellison then listed her crimes: "fraud, conspiracy to commit fraud and money laundering." Ellison, who ran Alameda Research, pleaded guilty in December to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. Ellison said she was under the impression that it was FTX customer money because the sums exceeded the exchange's profits and the amount of capital it hard raised. That followed an in-person conversation between Ellison, Bankman-Fried and Sam Trabucco, Alameda's co-CEO. WATCH: Caroline Ellison testifies Sam Bankman-Fried directed her to commit crimes
Persons: Caroline Ellison, Sam Bankman, Ellison, Danielle Sassoon, Fried, Sassoon, Bankman, Sam, FTX, Binance, Sam Trabucco, Alameda's Organizations: Alameda Research, Jane, Stanford, Jane Capital, Alameda Locations: Manhattan, Alameda, New York, San Francisco Bay, Brooklyn, FTX
Political Cartoons View All 1205 ImagesHe acknowledged that Iran and Lebanon’s Hezbollah militant group have helped Hamas in the past, but said that since the 2014 Gaza war Hamas has been producing its own rockets and training its own fighters. He also said Hamas believed Israel had plans to kill its top leaders. He said nearly 2,000 Hamas fighters have taken part in the latest fighting, out of an army of 40,000 in Gaza alone. On Monday, the Palestinian Islamic Jihad militant group claimed it sent four gunmen across Lebanon’s border into Israel. Barakeh said Hamas is ready to fight a long war with Israel, saying it has an arsenal of rockets that will last a long time.
Persons: , Lebanese Hezbollah “, ” Ali Barakeh, , Israel’s, Barakeh, ” Barakeh, Israel, , Organizations: Lebanese Hezbollah, Associated Press, U.S, Hamas, Sunday, Islamic Jihad, , Land Foundation for Relief, Development Locations: BEIRUT, Gaza, Israel, Iran, Beirut, , Hamas, Saudi Arabia, Jerusalem, Al, Aqsa, Lebanon’s, Lebanon, United States, America, Dallas
Taylor Swift wanted to take up FTX endorsement deal, says author Michael Lewis. But Lewis said negotiations fell through after Sam Bankman-Fried "dragged his feet on the deal." Lewis wrote about FTX's talks with Swift in his new book on the rise and fall of the company. AdvertisementAdvertisementTaylor Swift may have signed an endorsement deal with FTX if not for Sam Bankman-Fried delaying the deal, per author Michael Lewis's latest book on the now-bankrupt cryptocurrency exchange. "FTX had an agreement with Swift to pay her between $25 and $30 million a year, but Sam dragged his feet on the deal," Lewis wrote.
Persons: Taylor Swift, Michael Lewis, Lewis, Sam Bankman, FTX's, Swift, , Michael Lewis's, FTX, Sam, Natalie Tien, Taylor, Fried, Tom Brady, Naomi Osaka, Adam Moskowitz, Moskowitz Organizations: Service, Bankman, NFL Locations: Alameda
Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."
Persons: Sam Bankman, SBF, , FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda
Sam Bankman-Fried's criminal fraud trial begins in federal court on Tuesday. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."
Persons: Sam Bankman, SBF, , FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda
NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Political Cartoons View All 1190 ImagesThe 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. Bankman-Fried is expected come face-to-face with his former lieutenants at FTX for the first time since its collapse. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong.
Persons: Sam Bankman, Fried, Bernie Madoff, , Michael Zweiback, Zweiback, Zalduendo, FTX, SBF ”, J.P, Morgan, Tiger Woods, Justin Timberlake, Bankman, John Ray III, Caroline Ellison, Gary Wang, Ryan Salame, Salame, Ellison, funneling, Christine Adams, Adams, Andrew Ross Sorkin, Judge Lewis A, Kaplan, Changpeng Zhao, Larry Neumeister Organizations: Southern, of, Republicans, “ Prosecutors, Zalduendo LLP, Stanford University, Alameda Research, Alameda, Enron, FTX, Bankman, Prosecutors, The New York Times, NFTs, Securities and Exchange Commission, Binance, SEC Locations: Morgan, of New York, Washington, cryptocurrencies, Silicon Valley, FTX, The Bahamas, Albany, Alameda, Bahamas, New York, Palo Alto , California
Anna Wintour once sought Sam Bankman-Fried's sponsorship for the Met Gala, says Michael Lewis. But the author told "60 Minutes" that Bankman-Fried had no idea who Wintour was. AdvertisementAdvertisementVogue's Anna Wintour wanted to secure Sam Bankman-Fried's sponsorship for the Met Gala, but Bankman-Fried didn't know who she was, according to the author of an upcoming book on FTX. And he says, "There's this person named Anna Wintour,'" Lewis told "60 Minutes" correspondent Jon Wertheim. Lewis told "60 Minutes" that on this particular occasion, he "sat off to one side," where Wintour couldn't see him on the call.
Persons: Anna Wintour, Sam Bankman, Michael Lewis, Fried, Wintour, Lewis, , Jon Wertheim, Wintour couldn't, Bankman, FTX Organizations: Service, New York's Metropolitan Museum of Art, Court, District of Locations: America, Bankman, District of Delaware, Alameda
Tom Brady and Sam Bankman-Fried got along despite being polar opposites, says Michael Lewis. Lewis told "60 Minutes" that the pair were like "like the class nerd and the quarterback." AdvertisementAdvertisementFormer NFL quarterback Tom Brady "adored" Sam Bankman-Fried despite the two being polar opposites, says the author of an upcoming book on FTX. "And he really liked Tom Brady. "Like, even the nerds don't hang out with this nerd, he's such a nerd," Lewis said.
Persons: Tom Brady, Sam Bankman, Fried, Michael Lewis, Lewis, Brady, , Jon Wertheim, Sam wasn't, he's, FTX Organizations: Service, Bankman, CBS, Forbes Locations: FTX, Alameda
For Sam Bankman-Fried, losing internet access is more frightening than jail, says Michael Lewis. Lewis told "60 Minutes" he thinks Bankman-Fried "could survive jail forever" if he had internet access. AdvertisementAdvertisementDisgraced FTX founder Sam Bankman-Fried is more afraid of losing access to the internet than getting locked up, according to the author of an upcoming book on FTX. Michael Lewis shared his views on Bankman-Fried during an interview on "60 Minutes," which aired on Sunday. Lewis told "60 Minutes" that Bankman-Fried's greatest fear about going to prison would be losing his internet access.
Persons: Sam Bankman, Michael Lewis, Lewis, , Fried Organizations: Service, Metropolitan Detention, Bankman Locations: FTX, Bahamas, Brooklyn, Alameda
FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .
Persons: FTX, Fried, , Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale
Best High-Yield Savings Accounts for October 2023
  + stars: | 2023-09-28 | by ( Martha C. White | ) www.wsj.com   time to read: +18 min
With the Federal Reserve steadily raising interest rates to fight inflation, high-yield savings account payouts have steadily risen, too. After years of near-zero returns, the average savings account rate has risen to 0.45%, according to the Federal Deposit Insurance Corp. Their new High-Yield Savings account offers a 3.5% APY, but you need a hefty $5,000 deposit to open the account. Unlike some high-yield online savings accounts, you earn a high APY—currently 5%—on every dollar in your account. You can conduct immediate electronic transfers between your brokerage account and savings account, and manage both savings and investment activities on a single platform.
Persons: Martha C, it’s, JPMorgan Chase, Wells, Wells Fargo, Ally, Synchrony, UFB, , Achilles, We’ve, Foster, Alliant, Morgan Stanley, Marcus, Goldman Sachs, Charles Schwab, Charles Schwab Bank Charles Schwab Organizations: Federal Reserve, Federal Deposit Insurance Corp, Capital, National, One’s, JPMorgan, JPMorgan Chase JPMorgan Chase &, Chase Savings, Ally, Synchrony, CIT, First Citizens, Bank, Axos Bank, Webster Bank, National Bank, Zelle, Alliance Data Systems, Comenity Capital Bank, FDIC, Foster Care, Navy, Navy Federal, Savings, Morgan Stanley Private, Morgan Stanley Private Bank, Bloomberg, Trade, Charles, Charles Schwab Bank, Best Bank, National Credit Union Administration, dateline Locations: Chase, Zelle, Ally’s, Utah, Chicago, U.S, .
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
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
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