Sam Bankman-Fried: FTX Founder Paroled on $250 Million Bail

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Sam Bankman-Fried was set on $250 million bail.

The founder of the FTX cryptocurrency market, Sam Bankman-Fried, has been released on bail and will remain under house arrest while he awaits trial in the US for the alleged million-dollar scam he committed through his company, which was declared in bankruptcy a few weeks ago.

A US judge has ruled that the 30-year-old former billionaire can remain under house arrest with his parents, who offered their California home as collateral to the bail of THE US DOLLAR$250 million dollars established by the magistrate.

At the hearing, Bankman-Fried neither admitted nor denied his guilt.

Shortly before his arrest in the Bahamas on December 12, the businessman told the BBC: “I did not knowingly commit fraud. I don’t think he commits fraud. I didn’t want any of this to happen. He certainly wasn’t as competent as he thought he was.” “.

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