
Former FTX boss Sam Bankman-Fried will face home detention while awaiting trial in the US on charges that he defrauded customers and investors of the collapsed cryptocurrency exchange.
A US judge said the 30-year-old former billionaire could be released to his parents on a $250m bond.
Mr Bankman-Fried’s attorney, Mark Cohen said the release requires him to surrender his passport and submit to location monitoring and detention at his parents’ home in California.
Reports says that Bankman-Fried has agreed to regular mental health treatment, his parents will co-sign the $250m bond.
At the hearing, Mr Bankman-Fried did not admit or deny guilt.
According to him, i didn’t knowingly commit fraud. I don’t think I committed fraud. I didn’t want any of this to happen. I was certainly not nearly as competent as I thought I was,” shortly before his 12 December arrest in the Bahamas, where he lived, and FTX was based.
Meanwhile, two of Mr Bankman-Fried’s closest colleagues pleaded guilty to fraud on Wednesday and are helping with the investigation.