Joseph Bankman and Barbara Fried are now dealing with professional repercussions as a result of Sam Bankman Fried’s role in the collapse of the infamous crypto exchange, FTX.
The Chain reaction of former FTX CEO Sam Bankman-Fried’s actions came full circle with his reputation having an effect on the careers of his parents, Stanford Law professors Joseph Bankman and Barbara Fried.
The Stanford Daily reports that SBF’s father, Bankman, was forced to drop his tax policy course during the winter session at a time when the family was suspected of purchasing a $16.4 million vacation home held by FTX before the collapse of the cryptocurrency exchange.
SBF’s mother, Fried on the other hand was not even named as a course instructor. Fried dissociated the move from the ongoing investigations, claiming it was a “long-planned” choice to retire, even if this event occurs at the same time as the fallout from FTX, when Fried became a topic of conversation due to her political connections. Fried stated in an interview with The Daily that she “hopes to” work as a teacher again in the future.
Most recently, SBF claimed that Changpeng Zhao, CEO of Binance, was to blame for the demise of FTX, alleging that CZ “threatened to walk at the last minute” without an additional $75 million and falsified his involvement in the project.
On December 9, Bankman-Fried made it known that he would be prepared to speak in a US House committee about the potential demise of FTX. Nevertheless, Bankman-Fried failed to present and provide testimony before a Senate Banking Committee hearing on FTX’s bankruptcy in early December after failing to answer by the deadline.
The former FTX CEO was later charged by the SEC for defrauding investors a few hours after being held in the Bahamas; these allegations will be different from those that caused his most recent imprisonment in the Bahamas.