FTX founder Sam Bankman-Fried returns to court as judge evaluates bail conditions

Sam Bankman-Fried, the founder of the now-bankrupt FTX cryptocurrency exchange, is facing a fraud case that has drawn significant attention in the financial world.

As the October 2 trial date approaches, Bankman-Fried’s bail conditions are under scrutiny, and he is due back in court to determine if he can remain free.

The US Attorney’s office in Manhattan has requested that Bankman-Fried be barred from making public statements that could potentially interfere with the case.

Last week, prosecutors accused him of witness tampering after he provided a New York Times reporter with personal writings from Caroline Ellison, the former chief executive of his crypto hedge fund, Alameda Research.

Ellison, who is also Bankman-Fried’s former romantic partner, has pleaded guilty and is expected to testify against him.

Bankman-Fried, who maintains his innocence regarding charges of stealing billions of dollars in FTX customer funds to cover losses at Alameda, has consented to the gag order.

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However, he has also requested that the order be applied to prosecutors and potential witnesses, including the current CEO of the FTC, John Ray.

The court is set to review the adequacy and continuation of Bankman-Fried’s current bail conditions.

The 31-year-old former billionaire has been mostly confined to his parent’s home in Palo Alto, California, since his extradition from the Bahamas in December, where he was arrested and where FTX was headquartered.

In the past, Judge Lewis Kaplan has questioned the leniency of Bankman-Fried’s bail terms. Prosecutors previously proposed restrictions on his internet use after he attempted to contact Ray and an FTX lawyer.

While Kaplan expressed concerns, he refrained from imprisoning Bankman-Fried but imposed communication limits.

Recently, The New York Times published excerpts from Ellison’s personal Google documents, revealing her struggles and emotions before FTX’s collapse.