Burn the family business! SBF parents "suspended classes this semester" and will no longer teach at Stanford University in 2023

Former FTX CEO Sam Bankman-Fried (SBF) is in the crosshairs following the collapse of cryptocurrency exchange FTX, possibly affecting the careers of his parents, who will no longer be at Stanford starting in 2023 Taught, but SBF mother Barbara Fried said her decision to leave Stanford had nothing to do with anything else.
(Recap:US senator warns: If SBF does not attend the hearing on the 14th, it will wait to receive a subpoena）
(background supplement:Finally leaving the Bahamas? SBF willing to “go to U.S. hearing in person”; House calls for 12/13 report）

since SBF father Joseph Bankman has been teaching at Stanford Law School since 1988, before the FTX crash, according to an October 31 release from Stanford Law Schoolcourse updatewho was supposed to teach tax policy next year, but the latestClass ScheduleIt appears that the course has been cancelled.

A Stanford law student who took Joseph Bankman’s class told the San Francisco Standardconfirmed, Joseph Bankman’s class has been cancelled. Joseph Bankman may be clearing his schedule to help his son SBF, who has not yet been charged with a crime but could face serious criminal charges, has flown to the Bahamas to assist SBF following the collapse of FTX.

SBF’s mother, Barbara Fried, is also a professor at Stanford Law School and has taught at Stanford since 1987, but she won’t be teaching there next year either, Barbara Fried told the Stanford Journalexpressa “long-planned” retirement decision that “has nothing to do with anything else”, though she also said she hopes to return to teaching in the future.

SBF is looking for legal assistance

Decrypt report, SBF revealed during his video conference at the DealBook Summit in New York last week that his parents are still offering him support. Although SBF’s parents are not their lawyers, they would be very busy if they wanted to provide SBF with legal advice.

SBF this week hashire He was defended by Mark Cohen, who recently defended Ghislaine Maxwell, a British socialite who was convicted of luring underage girls for sex.

Currently, SBF and FTX are under investigation by the U.S. Securities and Exchange Commission (SEC), the Department of Justice, the Commodity Futures Trading Commission (CFTC), the Texas Securities Commission, and the California Department of Financial Protection and Innovation.

SBF could be subpoenaed if it fails to appear at congressional hearing

In addition, whether SBF will attend the hearing of the US Congress is attracting attention. He has been asked to attend the FTX collapse-related hearing held by the Financial Services Committee of the US House of Representatives on the 13th. Maxine Waters, chairman of the House Financial Services Committee, said on the 8thexpressthe subpoena “is definitely on the table.”

SBF was on the 5thto respondHe is willing to go to the House of Representatives Financial Services Committee hearing to testify, provided that after he completes understanding and review of what happened, but he is not sure whether he can understand the situation before the 13th, but he emphasized that “if it is completed, I will come forward. testify”.

At the same time, the Senate Banking, Housing and Urban Affairs Committee will also hold a hearing on the FTX collapse on the 14th. Senators Sherrod Brown and Patrick Toomey have alreadysend a letter The SBF, which requires him to testify, will be prepared to receive a subpoena if he does not appear.