FTX founder Sam Bankman-Fried will be released on $250 million bond and restricted to confinement in his parents Palo Alto, Calif., home, a federal magistrate judge said Thursday, in the former executive’s first appearance in a New York federal court after he was extradited from the Bahamas.
Mr. Bankman-Fried, charged with engaging in criminal conduct that contributed to the cryptocurrency exchange’s collapse, came to court shackled by the ankles and wearing a charcoal gray suit. He sat quietly at the defense table, flanked by his lawyers.
Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.
Source: Sam Bankman-Fried to Be Released on $250 Million Bond – WSJ
