FTX founder Bankman-Fried permitted $250M bond with home arrest

FTX founder Bankman-Fried permitted $250M bond with home arrest

Sam Bankman-Fried, the crypto entrepreneur, can pay $250M bond and live in his parents' California house while awaiting trial, a judge said.

[{"selector":"#anim-158471b8-bab7-4655-98c5-45ebe797ae57 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(12.911848024881886%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

In Manhattan federal court, Assistant U.S. Attorney Nicolas Roos claimed Bankman-Fried, 30, "perpetrated a scam of enormous proportions."

[{"selector":"#anim-c310ed2b-ec3c-4336-860b-ee9cf620b63c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Roos proposed strict bail conditions, including a $250M bond and house arrest in Palo Alto, California, at his parents' home.

[{"selector":"#anim-f370be68-c078-4866-8be0-b4ddbbc241aa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

As per Roos, one of the main reasons for allowing bail was that Bankman-Fried agreed to waive extradition.

[{"selector":"#anim-d18387f4-7460-45d3-8764-bcb23f2fc7b8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Magistrate Judge Gabriel W. Gorenstein approved the bond and the house arrest proposal.

[{"selector":"#anim-c14fdbd1-941e-4ea8-b9fd-37d897af62ad [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

He also stated Bankman-Fried would need an electronic surveillance device before exiting the Manhattan courthouse.

[{"selector":"#anim-8af70c73-b46f-43f7-a54c-773debf06a84 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after declining extradition.

[{"selector":"#anim-4f6a5a80-0cb6-44d9-87e0-af4486d90f0f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(15.125960420011642%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more