On Thursday, FTX founder Sam Bankman-Fried was released on a $250 million bond, while awaiting trial for fraud and other criminal charges.
The bond was secured in equity by his family home and the signatures of his parents, both Standford Law professors, with “considerable” assets.
Bankman-Fried will be required to wear an electronic monitoring bracelet, before he is released to his parents’ home in California.
In November, Bankman-Fried resigned as CEO after FTX and its affiliates filed for bankruptcy, due to a run on assets similar to a bank run.
The US Attorney for the Southern District of New York has charged him with eight counts, including securities fraud and money laundering.