Sam Bankman-Fried, the creator of FTX, has been given the largest bail payment in history—$250 million—following being charged with wire fraud, money laundering, and breaching campaign finance laws.
He has consented to stay at his parents’ house in Palo Alto, California and check in with pretrial services by Friday morning.
This remarkable bail amount is due to Bankman-Fried’s fame and the possibility of him absconding.
He will need to utilize his parents’ home as collateral and get someone outside of his family to co-sign the bail contract. If he appears for trial, the 10% payment will be refunded.
