Sam Bankman-Fried, the founder of the fallen crypto exchange FTX is set to be released on bail, which will cost him $250 Million per the ruling of a federal judge.
Bankman-Fried has been moved from the Bahamas to Westchester on Wednesday after multiple days of court hearings.
This bail was agreed on by prosecutors and Bankman-Fried's lawyers, and it requires him to wear a bracelet that tracks his location, consult a mental health professional, and stay within the northern district of California, these restrictions come after the Judge has said that the former crypto giant requires "strict" supervision.
On another note, Bankman-Fried has been accused of 8 criminal charges, mainly fraud and tricking investors, and two of his top executives pled guilty to several related criminal charges.