Sam Bankman-Fried

FTX founder Sam Bankman-Fried will be released on $250 million bail, a federal judge ruled, while he awaits trial for eight federal criminal charges related to alleged fraud at his collapsed crypto empire.

– Bankman-Fried was extradited from the Bahamas to Westchester County in New York on Wednesday night after days of chaotic court hearings.

In addition to the $250 million package, Sam Bankman-Fried should be required to wear an electronic monitoring bracelet, submit to mental health counseling, and restrict himself to travel 

1

Federal regulators allege over $8 billion in customer funds is missing. FTX filed for bankruptcy protection in Delaware on Nov. 11. Bankman-Fried's successor, CEO John Ray, said he'd never seen such a "complete failure of corporate control."

Burst
Arrow

Credit: cnbc.com