22 Dec, 2022
1 min time to read

Federal judge orders release of FTX founder on strict bail conditions.

Sam Bankman-Fried, the founder of FTX, has been granted release on $250 million bail by a federal judge in New York, CNBC reports. Bankman-Fried, who was indicted on eight counts including securities fraud and money laundering, will be released to his parents' home in California under strict supervision.

His parents, both Stanford Law professors, will put up the equity in their home as part of the bail conditions. Bankman-Fried had previously claimed that he had only $100,000 remaining.