Ex-Crypto CEO Bankman-Fried released after securing N111B bail

Former FTX Crypto boss Sam Bankman-Fried has been relaxed after securing a a $250 million(N111bn) bond package on Thursday.

The crypto enthusiast is set to face trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a “fraud of epic proportions.”

Bankman-Fried is accused of stealing billions of dollars in customer funds to plug losses at his hedge fund, Alameda Research.

U.S. Magistrate Judge Gabriel Gorenstein set Bankman-Fried’s next court date for Jan. 3, 2023, before U.S. District Judge Ronny Abrams, who will handle the case.

Recall the founder’s net worth dropped to nothing following the bankruptcy of his company.