FTX founder Sam Bankman-Fried, charged in crypto exchange collapse, to be released on $250 million bond in first federal court appearance.
The 30-year-old one-time mogul had been held in the Bahamas following his arrest earlier this month, but was extradited to the U.S. late Wednesday to face prosecution in New York.
Like Bankman-Fried, Ellison and Wang also have been accused of civil charges by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. Bankman-Fried is accused of using billions of dollars of FTX funds to make personal investments and millions of dollars in contributions to political campaigns while repaying billions in loans owed by Alameda Research, a cryptocurrency hedge fund that he also founded, according to court documents.
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