Sam Bankman-Fried Released on $250M Bail

A federal judge agreed to release former FTX CEO Sam Bankman-Fried after he appeared in U.S. federal court on charges that he was the mastermind behind the fraud and illicit movement of customer funds inside his former crypto empire. The judge set bail at $250 million.

In addition, SBF's release includes a long list of requirements. He's not allowed to make financial transactions for more than $1,000, can't open new lines of credit, can't leave the house except to exercise and must go through substance-abuse and mental-health treatment, according to the agreement.

Bankman-Fried's release was to be secured by the equity in his parents' home and the signature of them and two other financially responsible people with considerable assets. The bail was described as a “personal recognizance bond,” meaning the collateral did not need to meet the bail amount.