NEW YORK — Sam Bankman-Fried was released on a $250 million bail package after making his first U.S. 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.
