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The Independent UK

National

Graeme Massie

FTX founder Sam Bankman-Fried to be released on $250m bail after first US court appearance

FTX United States Sam Bankman-Fried Bahamas New York

REUTERS

FTX founder Sam Bankman-Fried will be released on $250m bail after he appeared in a US courtroom after being extradited to New York from the Bahamas to face fraud charges.

Prosecutors accused the 30-year-old former head of the failed cryptocurrency exchange of allegedly carrying out “one of the biggest financial frauds in US history”.

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