A day after agreeing to be extradited from the Bahamas, Sam Bankman-Fried, a troubled cryptocurrency trader and co-founder of FTX, was freed on $250 million bond.
Eight criminal allegations, including wire fraud, money laundering, and crimes related to campaign finance, are brought against the 30-year-old crypto billionaire.
Bankman-Fried must continue to live under supervision at his parents’ house in Palo Alto, California, according to the decision delivered on Thursday by US magistrate judge Gabriel Gorenstein in federal court in Manhattan.
He was brought back to New York City by plane from the Bahamas on Wednesday, and the FBI took custody of him after he waived his right to object to the US government’s request for extradition.
As per the bail conditions, Bankman-Fried will be monitored via an ankle bracelet, and has been asked to surrender his passport and agree to mental health and substance abuse treatment.
The magistrate warned the crypto trader that an arrest warrant would be issued against him if he violates any of the conditions and that his parents would be liable $250 million for the bond, reports AFP news agency.
Post Your Comments