How Did Sam Bankman-Fried Make His $250 Million Bail?

Sam Bankman-Fried for weeks seemed to be trying to get ahead of former Alameda Research CEO Caroline Ellison’s widely

expected cooperation deal with prosecutors, subtly casting blame on her for FTX’s collapse. But when Manhattan US Attorney

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Damian Williams finally announced Ellison’s plea agreement Wednesday night, it came with a brutal stinger for

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Bankman-Fried: federal prosecutors also had a deal with Gary Wang, his FTX co-founder. Wang was far more integral to FTX than Ellison, making him a more dangerous witness for Bankman-Fried.

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Bankman-Fried, 30, is charged with orchestrating a yearslong fraud in which he used billions of dollars of FTX customer

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funds for personal expenses and high-risk bets through Alameda, the cryptocurrency exchange’s sister trading house.

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Following his first US court appearance Thursday after being extradited from the Bahamas, Bankman-Fried was

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released on a $250 million bond. He hasn’t yet entered a plea in the case. A spokesperson for Bankman-Fried didn’t immediately respond to a request for comment.

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