by Ava Benny-Morrison, Chris Dolmetsch & BLOOMBERG
Sam Bankman-Fried was released on a $250 million bail package after making his first US court appearance to face fraud charges over the collapse of FTX, the cryptocurrency exchange he co-founded.
Shackled and wearing a blue suit, Bankman-Fried appeared Thursday before a magistrate judge for the bail hearing in Manhattan federal court. He did not enter a plea, which will take place later before the judge presiding over his case.
The bail package includes a $250 million personal recognizance bond secured by his parents’ house in California. Its terms require him to stay with them and submit to electronic monitoring.
US Magistrate Judge Gabriel Gorenstein said that the risk that Bankman-Fried would flee was small and said he presented no danger to the public in terms of future financial crimes…
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