PanamaTimes

Sunday, Jul 06, 2025

FTX's Bankman-Fried headed for jail after judge revokes bail

US District Judge Lewis Kaplan on Friday revoked Sam Bankman-Fried's bail, after finding probable cause that the indicted founder of the bankrupt FTX cryptocurrency exchange tampered with witnesses at least twice.
Sam Bankman-Fried, founder of the now-bankrupt FTX cryptocurrency exchange, has had his bail revoked by US District Judge Lewis Kaplan. The decision follows allegations that Bankman-Fried tampered with witnesses linked to his upcoming fraud trial scheduled for October. The former billionaire faces charges of diverting billions of FTX customer funds to cover losses at his hedge fund, Alameda Research.

Bankman-Fried was detained in court yesterday after the judge rejected a request to delay his detention pending an appeal. Eyewitnesses reported the defendant looking emotionless as he was led out of the courtroom, while his parents, both Stanford University law professors, watched on emotionally.

The founder's troubles increased when it was revealed that he shared personal writings of former romantic partner and Alameda CEO, Caroline Ellison, with a New York Times reporter. Ellison, along with two other associates, has already pleaded guilty to fraud and is set to testify against Bankman-Fried.

Amidst this controversy, there's a debate over the defendant's rights to freedom of speech versus potential interference with the trial. A gag order is currently in place, restricting Bankman-Fried from commenting on his case.

The location of his detention remains uncertain, with suggestions he might be held at a luxury facility north of Manhattan, where he would have comfortable access to the internet and enjoy the fruits of the bribe he donated to politicians over the years he committed his multi billion dollars fraud.
Comments

Ron stiltzie 205 days ago
He’s living in his mom’s house, A luxury mansion in Palo Alto California.
JOSHUA 2 year ago
If you have experienced substantial financial loss as a result of fraudulent investments, it is crucial to take prompt action. Prioritize conducting comprehensive research, validating the credentials of any recovery service you may be considering, and obtaining recommendations from reliable sources before proceeding with their assistance. I have come across positive feedback about Winsburg net , which may be worth exploring.
Tinman 2 year ago
Rich White People's Justice:
"The location of his detention remains uncertain, with suggestions he might be held at a luxury facility north of Manhattan, where he would have comfortable access to the internet and enjoy the fruits of the bribe he donated to politicians over the years he committed his multi billion dollars fraud."

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
AI Raises Alarms Over Long-Term Job Security
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Brazilian Congress Rejects Lula's Proposed Tax Increase on Financial Transactions
Landslide in Bello, Colombia, Results in Multiple Casualties
Papa Johns pizza surge near the Pentagon tipped off social media before Trump's decisive Iran strike
Juncker Criticizes EU Inaction on Trump Tariffs
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Sole Survivor of Air India Crash Recounts Escape
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Protests Erupt in Los Angeles with Symbolic Flag Burning
Trump Administration Issues New Travel Ban Targeting 12 Countries
Man Group Mandates Full-Time Office Return for Quantitative Analysts
JPMorgan Warns Analysts Against Accepting Future-Dated Job Offers
Builder.ai Faces Legal Scrutiny Amid Financial Misreporting Allegations
Japan Grapples with Rice Shortage Amid Soaring Prices
Goldman Sachs Reduces Risk Exposure Amid Market Volatility
HSBC Chairman Mark Tucker to Return to AIA as Non-Executive Chair
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Judge Blocks Trump's Ban on International Students at Harvard
Trump Proposes Travel Ban on 'Uncontrolled' Countries
Panama Port Owner Balances US-China Pressures
Trump Administration Accused of Obstructing Deportation Cases
Trump’s China Strategy Remains a Geopolitical Puzzle
Eurozone Inflation Falls Below ECB Target to 1.9%
Call for a New Chapter in Globalisation Emerges
Blackstone and Rivals Diverge on Private Equity Strategy
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Bangkok Ranked World's Top City for Remote Work in 2025
Denmark Increases Retirement Age to 70, Setting a European Precedent
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Escalating Trade Tensions and Market Reactions
OnlyFans Reportedly in Talks for $8 Billion Sale
JBS Gains Shareholder Approval for U.S. Stock Listing
Booz Allen Hamilton to Cut 2,500 Jobs Amid Federal Spending Reductions
Trump Signs Executive Orders to Accelerate Nuclear Energy Development
Harvard Temporarily Blocks Trump Administration's International Student Ban
Nippon Steel Forms Partnership with U.S. Steel, Headquarters to Remain in Pittsburgh
Trump Expands Tariff Threats to Apple and Samsung Devices
Oracle and OpenAI Plan $40 Billion Nvidia Chip Purchase for AI Data Center
Trump Threatens 50% Tariff on EU Goods, Markets React
×