Sam Bankman Fried To Be Released On $250 Million Bond

FTX founder Sam Bankman-Fried appeared in front of a judge on Thursday in his fraud case.

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Crypto exchange FTX has filed for bankruptcy after a merger deal with Binance didn’t go through.

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After the bankruptcy filing, it was revealed that Bankman-Fried stole money of his customers and drove the company into the wall.

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Sam is facing as high as eight counts of fraud and conspiracy and have disclosed in past that he only has $100k in account.

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After Thursday hearing, the judge released the Bankman on bail for a bond of $250 million. However, he will be put on house arrest.

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This news spread as a wildfire on social media where people are questioning that how Bankman got the money to post his bail.

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The court also said that it will decide the fate of Bankman-Fried on a future date for charges of stealing billions of dollars from FTX customers.

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