FTX co-founder Sam Bankman-Fried is released on $250 million bond
FTX co -founder Sam Bankman-Fried, who is accused of misappropriating billions of dollars deposited in the crypto currency exchange, walked out of federal courthouse in New York on Thursday after posting $250 million personal recognizance bond. Bankman-Fried got into a black SUV and was driven away at the start of a cross-country trip that'll eventually end at his parents' home in Palo Alto, California, where he'll be kept under house arrest, under terms set by a federal judge. The 30-year-old appeared in court one day following his extradition from the Bahamas, where he was arrested on Dec. 12 following his indictment on a slew of charges related to the collapse of FTX. Bankman-Fried, wearing a dark blue suit and tan shoes, walked into court with shackles around his ankles. He did not speak until the end of the hearing. A recognizance bond is a written commitment from the accused to appear in court when ordered. In return, Bankman-Fried’s camp will not be required to mee...