Parents of FTX's Sam Bankman-Fried not teaching at Stanford next quarter: report
PALO ALTO, Calif. - Stanford Law professor and father of fallen cryptocurrency exchange founder Sam Bankman-Fried will not be teaching at the prestigious Palo Alto university next quarter, the Stanford Daily first reported.
Joseph Bankman canceled the one class he was slated to teach this winter. And his mother, Barbara Fried, is not listed as the instructor for any course either, the Stanford Daily reported.
In a statement to The Daily, she wrote that the decision was "long planned" and has "nothing to do with anything else going on," including criticism surrounding the family’s acquisition of a $16.4 million vacation home from FTX shortly before its collapse.
Sam Bankman-Fried is the disgraced, 30-year-old founder of cryptocurrency exchange FTX, which collapsed in November.
FTX, which was valued $32 billion a few weeks ago, tanked because of its lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from skittish investors.
Both Bankman and Fried are lawyers and longtime professors at Stanford, dating back to the late 1980s.
Sam Bankman-Fried himself was born on Stanford’s campus and grew up around there, according to the San Francisco Standard.