Judge Rules FTX Founder Sam Bankman-Fried Can Leave Jail
The fallen crypto king is set to be released on a massive $250 million bond and will live under home detention at his parents’ house.
Ed Jones/AFP via Getty
Disgraced FTX founder Sam Bankman-Fried will have at least one more taste of freedom before he faces down an eight-count indictment—including charges of wire fraud and conspiracy to commit money laundering—after a New York judge ruled on Thursday that he can be released on a $250 million bond. His passport will be surrendered and he will live under home detention at his parents’ house in California, where he will be subject to location monitoring. In a series of media appearances prior to his arrest in the Bahamas, Bankman-Fried claimed he “did not ever try to commit fraud on anyone.” Prosecutors, meanwhile, allege that he participated in a scheme to “misappropriate billions of dollars of customer funds” from the FTX crypto exchange, and that he misled FTX's investors and lenders. Bankman-Fried was extradited from the Bahamas to New York late Wednesday.
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