Sam Bankman-Fried will be released after $250 million bail is paid.
SBF, who went to court, was told that he could live with his family in return for a payment of 250 million dollars.
Sam Bankman-Fried’s Bail Paid
The court agreed to release the former CEO of FTX on a $250 million bail.
SBF, who was sent to the USA after his extradition was approved, came to the courthouse in New York to face the charges. The former CEO is accused of various crimes, including defrauding investors and money laundering.
SBF will be placed under house arrest at his family’s California home following his release. A long list of requirements has been included so that it can remain completely free.
Caroline Ellison, former CEO of FTX’s sister company Alameda Research, and Gary Wang, FTX’s other co-founder, pleaded guilty to federal charges the other day.