BREAKING: Disgraced crypto bro SBF released on $250 MILLION bail

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The former billionaire and founder of the crypto scheme FTX was released on $250 million bail after appearing in a Manhattan court on Thursday. The package includes terms that he will be confined to his parents’ house in California, where he awaits trial.

Samuel Bankman-Fried, 30, has been charged with 8 counts of defrauding customers, as well as money laundering and violations to campaign finance laws. 

A grand jury indictment accused Bankman-Fried of “knowingly” scheming to defraud investors by moving funds into his girlfriend’s crypto fund, Alameda Research. The Department of Justice has also accused the alleged fraudster of breaking campaign finance laws.

Bankman-Fried is accused of making “tens of millions of dollars” worth of illegal campaign donations. 

According to Fortune, “30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle.”

His donations totaled a documented $39.8 million. 

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