BREAKING: FTX founder Sam Bankman-Fried to be released on $250,000,000 bail.
Sam Bankman-Fried, the founder and former CEO of the cryptocurrency exchange FTX, will be released on a $250million bail
Bankman-Fried, the 30-year-old former CEO of the cryptocurrency exchange FTX, went to his arraignment in a New York on Thursday, one day after being extradited from the Bahamas. The former CEO has been accused of stealing user deposits to lend money to his hedge fund, Alameda Research. He has also been accused of using these funds to purchase lavish real estate in the Bahamas and to make donations to political candidates in the US.
On Monday, Bankman-Fried appeared before a Bahamian judge and agreed to be extradited to the United States. He was released to FBI custody and flown to New York.
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