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.  

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. 

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

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

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.

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

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

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.