Sam Bankman-Fried Released on $250 Million Bail
Sam Bankman-Fried was freed on a $250 million bond after making his initial appearance in a US court to face fraud charges related to the collapse of FTX.
A $250 million personal recognisance bond backed by his parents’ California house is part of a bail package.
In an indictment announced Dec. 13, Manhattan federal prosecutors accused Bankman-Fried, 30, of organising a yearlong fraud involving FTX customer funds.
FTX’s failure has echoed throughout the cryptocurrency sector, prompting demands for more regulation and responsibility for crypto exchange leaders.