Bankman-Fried executives may get bail after FTX fraud pleas.

By The Exchange Team

Federal prosecutors approved bail for Gary Wang and Caroline Ellison, former Sam Bankman-Fried lieutenants.

After Both pleaded guilty to helping former FTX CEO Bankman-multibillion-dollar Fried's fraud, court documents reveal.

FTX's chief technology officer was Gary Wang. Caroline Ellison was co-CEO of  Alameda Research, Bankman-Fried's bitcoin trading firm.

Wang and Ellison must pay $250,000 bail, surrender their passports, and stay in the continental US.

In exchange, the pair admitted to supporting a $8 billion fraud that destabilised the crypto market and robbed millions of clients.

The bail conditions will not be challenged by prosecutors, but it is unclear whether they will be approved by a judge.

Requests for comment from Ellison and Wang's attorneys were not immediately returned.