The FTX founder's bail package includes a $250 million personal recognizance bond secured by his parents’ house in California, where he will be required to stay.
Sam Bankman-Fried was released on a $250-million bail package after making his first U.S. court appearance to face fraud charges over the collapse of FTX, the cryptocurrency exchange he co-founded.
Bankman-Fried, 30, was charged in an indictment unsealed Dec. 13 by Manhattan federal prosecutors with orchestrating a yearslong fraud in which he used billions of dollars of FTX customer funds for personal expenses and high-risk bets through the exchange’s sister trading house, Alameda Research.Most members of California’s congressional delegation reported donating their campaign contributions from Bankman-Fried, who was recently indicted on fraud, conspiracy and campaign finance charges.
Bankman-Fried’s New York court appearance caps a roughly weeklong drama over his return to the U.S. to face trial. Arrested Dec. 12 in the Bahamas at the request of U.S. authorities, he initially indicated he would fight extradition.
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