Ex-FTX CEO Approved for Record-Breaking $250 Million Bond at U.S. Court Appearance

1: ex-ftx ceo sam bankman-fried was approved for a historic $250 million bond at his first u.s. court appearance. bankman-fried faced criminal charges in the united states related to the collapse of his digital asset exchange, ftx. co-conspirators caroline ellison and gary wang were not mentioned during the bond hearing. the government proposed a bail package that included a $250 million bond, home detention, and location monitoring.

2: the bond hearing took place at a federal court in the united states. bankman-fried will be allowed to await trial at his parents house in palo alto, california. the bond is secured by the palo alto property.

3: the bail package was described as “the highest ever pre-trial bond”. a federal judge approved the bail package and bankman-fried’s defense counsel said he agreed with the conditions. bankman-fried will not be able to spend more than $1,000 except on defense related cost without court approval and his passport would remain in the possession of law enforcement. bankman-fried voluntarily consented to come face the charges and will get to spend christmas with his family. the extradition process can take months or years in the bahamas.


By Evey Lovelace

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