Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, is released on $250 million bond in his first US court appearance
The judge agreed to a bail package proposed by federal prosecutors and lawyers for Bankman-Fried that also requires the former so-called crypto king to have an electronic monitoring bracelet and be under house arrest at his parents’ home in Palo Alto, California. He has already surrendered his passport. The judge said Bankman-Fried would be arraigned on the charges that he stole billions of dollars from customers of his crypto-trading platform at a future date.
On Wednesday, two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night.
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