Sam Bankman-Fried, founder of the FTX stock exchange, has been released on $250 million bail

Sam Bankman-Fried

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Sam Bankman-Fried has been released on $250 million bail

A US court has ruled that FTX founder Sam Bankman-Fried is subject to house arrest pending trial on charges of defrauding clients and investors in the collapsed cryptocurrency exchange.

The judge said the 30-year-old former billionaire could be released on bail of $250 million.

Bankman-Fried did not admit, during his trial, and did not deny the charges against him.

He had previously distanced himself from the charges, which affected the entire cryptocurrency sector.

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