Stanford University will refund millions of dollars received from FTX, a move that comes as FTX's advisers file a lawsuit to recover money owed to clients of the bankrupt cryptocurrency exchange.。FTX claims that the parents of its co-founder and former CEO Sam Bankman-Fried made themselves millions of dollars through their influence over FTX。

Allan Joseph Bankman and Barbara Fried, both law professors at Stanford Law School, said Stanford received about $5.5 million in funding from FTX between November 2021 and May 2022.。

Stanford to return funds in full

A Stanford University spokesperson said they would return the funds in full, adding: "We have been in discussions with the FTX debtors' lawyers to recover these grants, and we will return the funds in full."。the spokesman clarified that the grants were mainly used for epidemic prevention and research work。

In a separate report, FTX and its affiliated hedge fund firm Alameda Research disclosed that they were working to recover $71 million allegedly used for charity by a cryptocurrency exchange that went bankrupt in July, involving a donation to a life sciences company.。

FTX's legal team filed a lawsuit in a U.S. bankruptcy court in Delaware, with the accused subjects including Lumen Bioscience Inc..Greenlight Biosciences Holdings and Platform Life Sciences Inc.

Meanwhile, Trevor Lawrence, Kevin Paffrath and Tom Nash have settled a lawsuit related to their endorsement of FTX。Terms of the settlement have not been disclosed, marking the first time more than a dozen celebrities and companies accused of aiding Sam Bankman-Fried (FTX founder) in allegedly defrauding investors have reached a settlement.。

The lawsuit is in the spotlight because it accuses celebrity endorsements of making a significant contribution to the rise of FTX, but fails to disclose details of their deals and compensation to investors.。Notable names such as Tom Brady, Gisele Bundchen, Steph Curry, Shaquille O'Neal, and Larry David, who spoke for FTX, are facing similar legal action.。

FTX endorsement fees come under scrutiny

According to a recent court filing, FTX's financial advisers have compiled a list of names and entities to explore the possibility of withdrawing payments made to them as part of the exchange's marketing campaign.。Many have been named in a class-action lawsuit filed by former FTX customers whose money has now been tied up in bankruptcy proceedings.。