FTX founder Sam Bankman Fried released on $250 million bond

A federal magistrate on Thursday ordered disgraced FTX founder Sam Bankman-Fried released on a $250 million personal recognizance bond signed by his parents and secured by their Palo Alto, California, home.

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Bankman-Fried, appeared in a dark suit and tie with his distinctive mop of curly hair. Shackles were not visible around his ankles but echoed through the courtroom as he entered.

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The 30-year-old crypto executive is charged with defrauding customers and investors in the now-bankrupt crypto exchange FTX.

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"Mr. Bankman-Fried perpetrated a fraud of epic proportions," assistant United States Attorney Nicholas Roos said. "The evidence is very strong."

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Magistrate Judge Gabriel Gorenstein ordered Bankman-Fried's passport taken and his travel restricted. He will be under strict pretrial supervision, required to live with his parents at their house.

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He also told ABC News that he had only $100,000 to his name and one working credit card.

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Bankman-Fried is due back in court Jan. 3 before Judge Ronnie Abrams, to whom the criminal case is assigned.

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The only words Bankman-Fried uttered during Thursday's hearing were, "Yes I do," when asked by the judge whether he understood the consequences of bail jumping.

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