The former CEO of FTX, SBF, went to jail before going to court.
Sam Bankman-Fried, founder of FTX, has been detained prior to trial in federal court for being accused of leaking the diary of former Alameda Research CEO Caroline Ellison to the New York Times.
SBF’s bail revoked and jailed
The annulment of Sam Bankman-Fried’s bail release and his detention came ahead of his trial in October, when he faced multiple financial charges.
The 31-year-old former CEO of FTX, Bankman-Fried, manipulated multiple files, violating the terms of the bond, according to the US Department of Justice. It was stated that Bankman-Fried had contacted former FTXUS general counsel Ryne Miller and was watching the Super Bowl over a virtual private network, according to the defense team, and these actions led to his detention again for violating bail conditions.
In addition, Bankman-Fried’s sharing a part of the private diary of former Alameda Research CEO Caroline Ellison with the New York Times was a factor that led to the increase in the accusations. Bankman-Fried’s defense team admitted to sharing some of her diary pages with the Times, but argued that it was not for the purpose of manipulating a witness. In addition, the defense team opposed this decision, stating that Bankman-Fried’s detention would complicate the preparations for the trial.
Judge Lewis Kaplan, on the other hand, found these allegations insufficient and did not approve of Bankman-Fried’s imprisonment. This event reflects the complex and remarkable developments in the judicial process of one of the leading names in the cryptocurrency industry.
