The founder of the FTX cryptocurrency exchange has been released on a bond package before his trial
Sam Bankman-Fried has been released on a $250 million bond package as he awaits trial on fraud charges related to the collapse of his crypto exchange.
Federal prosecutors in Manhattan accuse him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research.
Bankman-Fried was not asked to enter a plea.
He has previously acknowledged risk-management failures at FTX, but has rejected any criminal liability.
His defence lawyer declined to comment after the hearing in the Manhattan federal court.
But his house arrest proposal was approved. It means he will have to wear an electronic monitoring bracelet.
