Sam Bankman-Fried, US prosecutors near new bail agreement

NEW YORK: Lawyers for Sam Bankman-Fried are nearing an agreement with United States prosecutors on revised bail conditions for the indicted FTX cryptocurrency exchange founder, who is trying to convince a sceptical judge that he should remain free.

Bankman-Fried, 31, faces a trial set for Oct 2 on charges of stealing billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund, and making large illegal political donations to buy influence in Washington. Prosecutors raised the spectre of witness tampering in January after Bankman-Fried tried to contact John Ray, who became FTX's chief executive when the company filed for bankruptcy last November, and an in-house lawyer.At the Mar 10 hearing, prosecutors and defence lawyers proposed giving Bankman-Fried a flip phone with no Internet capability and a basic laptop with limited functions.

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Sam Bankman-Fried, US prosecutors near new bail agreementNEW YORK : Lawyers for Sam Bankman-Fried are nearing an agreement with U.S. prosecutors on revised bail conditions for the indicted FTX cryptocurrency exchange founder, who is trying to convince a skeptical judge he should remain free.In a letter filed on Friday night in Manhattan federal court, Bankman-F
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FTX transferred $2.2 billion to Bankman-Fried via related entities, new managers sayBankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company's new management said.Overall more than $3.2 billion was transferred through payments and loans to company founders and key employees, FTX said in a statemen
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