FTX co-founder Sam Bankman-Fried’s $250 million bail package is one of the largest in U.S. history, but it doesn’t mean he actually has to put up that kind of money
At Bankman-Fried’s bail hearing on Thursday in federal court in Manhattan, both the prosecution and defense agreed that the former billionaire’s assets have “diminished significantly.” Bankman-Fried has said he may have only $100,000.
Such bonds also signal the seriousness of the crime being charged, and federal prosecutor Nicholas Roos made that point in court. The size of the bond matches the one imposed on Colony Capital LLC founder Tom Barrack, who was acquitted last month of charges that he illegally tried to influence U.S. policy as an agent of the United Arab Emirates. It’s still far less than the record $3 billion bond set for real estate heir Robert Durst after he jumped bail on a murder charge in Texas.
Failing to provide the signatories by the January deadline won’t necessarily see the crypto founder awaiting trial behind bars, however.
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