") no-repeat center center;background-size:10px 16px;content:' '}@media(min-width:768px){.UeJNJ::before{display:none}}.gSkBXd{aspect-ratio:16/9}@media(min-width:1000px){.lfyduH .taboola{display:none}}.lfyduH:has(#taboola-carousel-thumbnails){min-height:426px}.lfyduH:has(#taboola-mid-article-thumbnails-crime){min-height:405px}@media(min-width:1000px){.lfyduH:has(#taboola-carousel-thumbnails),.lfyduH:has(#taboola-mid-article-thumbnails-crime){min-height:0}}.maSQa{width:100%;margin-bottom:16px}@media(max-width:767px){.maSQa{min-height:590px}}@media(min-width:768px){.maSQa{height:558px}}.iUtUOL .tp-container-inner,.iUtUOL .sc-1suqprf-0{position:relative;box-shadow:0 -22px 16px 22px rgba(255,255,255,0.95);box-shadow:0 -22px 16px 22px light-dark(rgba(255,255,255,0.95),rgba(0,0,0,0.95))}.iUtUOL.closed{display:none}.cAWJSb{width:32px}.cAWJSb,.cAWJSb:focus{color:#627aac;color:light-dark(#627aac,#627aac)}.cAWJSb:hover,.cAWJSb:active,.cAWJSb:focus-visible{color:#9cabcb;color:light-dark(#9cabcb,#9cabcb)}@media(min-width:768px){.cAWJSb.mobile-only{display:none}}.kvSIBL{width:32px}.kvSIBL,.kvSIBL:focus{color:#4e4e4e;color:light-dark(#4e4e4e,#4e4e4e)}.kvSIBL:hover,.kvSIBL:active,.kvSIBL:focus-visible{color:#919191;color:light-dark(#919191,#919191)}@media(min-width:768px){.kvSIBL.mobile-only{display:none}}.fAfNYP{width:32px}.fAfNYP,.fAfNYP:focus{color:#25d366;color:light-dark(#25d366,#25d366)}.fAfNYP:hover,.fAfNYP:active,.fAfNYP:focus-visible{color:#66e093;color:light-dark(#66e093,#66e093)}@media(min-width:768px){.fAfNYP.mobile-only{display:none}}.jOXOdf{width:32px}.jOXOdf,.jOXOdf:focus{color:#ec1a2e;color:light-dark(#ec1a2e,#ec1a2e)}.jOXOdf:hover,.jOXOdf:active,.jOXOdf:focus-visible{color:#f58992;color:light-dark(#f58992,#f58992)}@media(min-width:768px){.jOXOdf.mobile-only{display:none}}.dzqQwN{display:flex;gap:12px}.dFzDMM .sc-17yxc4y-0{display:none}.dFzDMM:hover .sc-17yxc4y-0,.dFzDMM.bookmark-button-saved .sc-17yxc4y-0{display:block}.dFzDMM:hover .sc-17yxc4y-1,.dFzDMM.bookmark-button-saved .sc-17yxc4y-1{display:none}.dFzDMM.bookmark-button-saved .sc-17yxc4y-0{display:block}.dFzDMM.bookmark-button-saved .sc-17yxc4y-1{display:none}.dFzDMM.bookmark-button-saved:hover .sc-17yxc4y-0{display:none}.dFzDMM.bookmark-button-saved:hover .sc-17yxc4y-1{display:block}.iJqvPe{display:inline-block;width:32px;height:32px;color:#70a5a7;color:light-dark(#70a5a7,#70a5a7)}.sQzGY{display:flex;flex-direction:row;justify-content:center;gap:12px}.cNueyK{display:flex;position:relative;justify-content:center}@media(min-width:768px){.cNueyK{justify-content:flex-end;padding-top:12px;margin:0}}.dUmHef{display:flex}.sticky .dUmHef{flex-direction:column}.igSthU{overflow:hidden;height:23px;margin-bottom:8px;border-bottom:0;clear:both}@media(min-width:768px){.igSthU{height:25px}}.fvIzys{display:inline-block;flex-shrink:0;margin:0 12px 0 0;font:bold 14px/normal 'Indy Sans','Indy Sans Fallback',sans-serif}.fvIzys::after{content:':'}.knjHva{display:inline-block;margin-right:12px;margin-bottom:4px;color:#222;color:light-dark(#222,#fff);font:normal 14px/1.29 'Indy Sans','Indy Sans Fallback',sans-serif;text-decoration:underline}.knjHva::first-letter {text-transform:capitalize}@media(min-width:1000px){.subscribed .gryCYY{margin-top:-184px}.article-feature:not(.article-feature-video) .subscribed .gryCYY{margin-top:-407px}}.gryCYY>p{margin:16px 0}.article-premium .gryCYY>p{line-height:27px}.gryCYY>h2{font-size:21px}.article-climate .gryCYY>h2{color:#ec1a2e;color:light-dark(#ec1a2e,#ec1a2e)}.article-sgi .gryCYY>h2{color:#ec1a2e;color:light-dark(#ec1a2e,#ec1a2e)}.gryCYY>p:first-child{margin-top:0}.gryCYY span:first-child~p:first-of-type{margin-top:0}.jKIGjX{display:inline-block;flex-shrink:0;border-radius:50%;background:#ec1a2e;background:light-dark(#ec1a2e,#ec1a2e);color:#fff;color:light-dark(#fff,#fff)}.jwWhkK{display:flex;width:100%;box-sizing:border-box;margin:0 0 16px;border:1px solid #d3d3d3;border:1px solid light-dark(#d3d3d3,#919191)}.inRDZn{box-sizing:border-box;flex:1;padding:12px 16px 12px 12px}@media(min-width:595px){.inRDZn{padding-bottom:8px}}.kcLSBk{width:135px}.kcLSBk img{object-fit:cover}@media(max-width:594px){.kcLSBk{display:none}}.hfveGa{display:flex;align-items:center;gap:28px}.fvoxRM{margin:0;color:#222;color:light-dark(#222,#fff)}.dRzeRr{display:none;font:bold 16px/19.2px 'Indy Serif','Indy Serif Fallback',serif}@media(min-width:595px){.dRzeRr{display:block}}.kbCQAZ{font:bold 20px/24px 'Indy Serif','Indy Serif Fallback',serif}@media(min-width:595px){.kbCQAZ{display:none}}.knvhy{display:none;font:bold 20px/24px 'Indy Serif','Indy Serif Fallback',serif}.iQYNfz{display:none}.fUEDPX{align-self:flex-start;margin-left:auto}.bUvhNj{display:flex;gap:16px;margin-top:4px}.liYzLd{--input-height:38px;width:100%;margin:0}.liYzLd label,.liYzLd label+span{position:absolute;overflow:hidden;width:.01em;height:.01em;padding:0;border:0;clip:rect(0,0,0,0);white-space:nowrap}.gTCBRF{height:38px;margin:8px 0 16px}.dhYWyO{--color:#646464;--check-border-color:#919191}@supports(color:light-dark(red,red)){.dhYWyO{--color:light-dark(#646464,#bdbdbd)}}@supports(color:light-dark(red,red)){.dhYWyO{--check-border-color:light-dark(#919191,#d3d3d3)}}.eOzDvV{margin-block:0;font:normal 9px/13px 'Indy Sans','Indy Sans Fallback',sans-serif}.bYBoJE{width:100%;flex-grow:1}.bYBoJE .social-share{width:100%;padding-top:10px;padding-bottom:20px}@media(min-width:768px){.bYBoJE .social-share{justify-content:flex-start}}.bYBoJE .social-share.sticky{display:none}@media(min-width:1000px){.bYBoJE .social-share.sticky{display:flex;position:sticky;top:14px;width:34px;flex-direction:column;padding-top:0;margin-top:0;margin-left:-25%}.bYBoJE .social-share.sticky .sc-mgcah7-0{margin:0 0 16px}.article-feature-video .bYBoJE .social-share.sticky{margin-top:0}.article-feature:not(.article-feature-video) .bYBoJE .social-share.sticky{margin-top:35%}}.bYBoJE.sponsored-article img,.bYBoJE.sponsored-article video{width:100%;max-width:602px;height:auto}.bYBoJE.sponsored-article iframe{max-width:602px;max-height:400px}.bYBoJE .under-article-prompt-donations{padding-bottom:8px;margin-top:-3px}.bYBoJE .big-letter{--color:#222;display:flex;position:relative;width:0;height:0;align-items:center;justify-content:center;padding:40px;margin-top:22px;margin-right:12px;border:1px solid var(--color);float:left;font:normal 52px/1 'Indy Serif','Indy Serif Fallback',serif;text-transform:uppercase}.bYBoJE .big-letter:first-child{margin-top:6px}.bYBoJE .big-letter::before{position:absolute;top:0;left:0;width:100%;height:100%;box-sizing:border-box;border:1px solid var(--color);border-radius:50%;content:''}.bYBoJE #taboola-below-article-1{min-height:2350px}@media(min-width:768px){.bYBoJE #taboola-below-article-1{min-height:3370px}}.bYBoJE #taboola-below-article-1-split-num-1{min-height:130px}@media(min-width:768px){.bYBoJE #taboola-below-article-1-split-num-1{min-height:415px}}.bYBoJE .sc-fwko30-0+.sc-1xtsh2b-0{margin-top:-16px}@media(min-width:768px){.bYBoJE{max-width:636px;margin:0}}@media(min-width:1000px){.bYBoJE{max-width:624px;margin:0}.bYBoJE.subscribed{max-width:636px}}@media(max-width:999px){.bYBoJE{padding-right:0}.bYBoJE .under-article-prompt-donations{margin-top:-18px}}.bYBoJE .anchor-nav-header{scroll-margin-top:79px}.bYBoJE .anchor-nav-header a{color:#222;color:light-dark(#222,#fff)}.bYBoJE .anchor-nav-header a:hover{color:#222;color:light-dark(#222,#fff)}@supports(color:light-dark(red,red)){.bYBoJE .big-letter{--color:light-dark(#222,#fff)}}.liYrJc{display:flex;flex-wrap:wrap;justify-content:flex-start;margin-bottom:8px;color:#d3d3d3;color:light-dark(#d3d3d3,#d3d3d3);font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.liYrJc{width:70%;align-items:center;justify-content:flex-start;margin-bottom:0;font:normal 16px/24px 'Indy Sans','Indy Sans Fallback',sans-serif}}@media(min-width:1000px){.liYrJc{width:70%;margin-bottom:0}}.dMNxBE{display:flex;height:20px;margin:0 12px 8px 0}.article-voices .dMNxBE{height:auto}@media(min-width:425px){.article-voices .dMNxBE{height:20px}}.dMNxBE::before{display:inline-block;align-self:center;margin-top:1px;margin-right:12px;content:'\2022';transform:scale(1.5)}.dMNxBE:first-child::before{content:none}@media(min-width:768px){.dMNxBE{height:24px;margin-bottom:0}.dMNxBE::before{margin-top:2px}}.dMNxBE time{display:block}.dMNxBE time::first-letter {text-transform:capitalize}.efpEY{display:inline-block;margin:0 12px 8px 0;color:#ef4757;color:light-dark(#ef4757,#ef4757);font:bold 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif;letter-spacing:-0.5px}.efpEY:hover,.efpEY:active{color:#f58992;color:light-dark(#f58992,#f58992)}@media(min-width:768px){.efpEY{margin-bottom:0}}.ePBJFt{margin:0 12px 8px -8px}@media(min-width:768px){.ePBJFt{margin-bottom:0}}.bMRmfY{display:flex;justify-content:flex-start;padding:0;margin:0 0 16px}@media(min-width:768px){.bMRmfY{display:flex;width:30%;align-items:center;justify-content:flex-end;margin:0}}@media(min-width:1000px){.bMRmfY{width:30%}}.dfBarH{padding-top:0;border-top:0;border-bottom:0}@media(min-width:768px){.dfBarH{display:flex;flex-flow:row wrap;padding-bottom:16px}.dfBarH .sc-mzrbq8-0{order:1}.dfBarH .sc-mzrbq8-6{order:2}}@media(min-width:1000px){.dfBarH{flex-direction:row}}.gkrVhQ{padding:16px 12px 12px;text-align:left;font:bold 14px/18px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.gkrVhQ{padding:16px 16px 12px}}.article-infact .gkrVhQ{padding:16px 0}@media(min-width:1000px){.gkrVhQ{padding:24px 0 19px}.article-feature .gkrVhQ{max-width:968px;margin:0 auto}}.gkrVhQ a{color:#fff;color:light-dark(#fff,#fff)}.gkrVhQ a:hover{color:#f58992;color:light-dark(#f58992,#f58992)}.gkrVhQ a:hover::after{color:#fff;color:light-dark(#fff,#fff)}.gkrVhQ a::after{margin-right:4px;margin-left:4px;content:'>'}.gkrVhQ a:last-child::after{display:none}.gbPKFW{margin:0 0 20px;letter-spacing:0}.bulCXp{margin:0;color:#d3d3d3;color:light-dark(#d3d3d3,#d3d3d3);font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.bulCXp{font:normal 18px/22px 'Indy Sans','Indy Sans Fallback',sans-serif}}@media(min-width:1000px){.bulCXp{font:normal 20px/24px 'Indy Sans','Indy Sans Fallback',sans-serif}}.bulCXp p{font:inherit}.article-feature .bulCXp a{font-weight:bold}.gOoYlj{max-width:968px;margin:0 auto;background:#222;background:light-dark(#222,#222)}@media(min-width:1000px){.parallax .gOoYlj{max-width:1240px}}.fdtMsm{font:bold 32px/36px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0156em}@media(min-width:768px){.fdtMsm{font:bold 44px/48px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0113em}}@media(min-width:1000px){.fdtMsm{font:bold 54px/58px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0092em}}.cuYuhQ{background:#222;background:light-dark(#222,#222)}.cuYuhQ .sc-qvufca-1{max-width:968px;background:#222;background:light-dark(#222,#222)}.cuYuhQ .sc-qvufca-0{margin:0}@media(max-width:999px){.cuYuhQ .sc-qvufca-0{margin:0 12px 0}}.cuYuhQ .sc-qvufca-2,.cuYuhQ .sc-1cmj4ml-0{color:#fff;color:light-dark(#fff,#fff)}.cuYuhQ .sc-qvufca-2{margin:0 0 20px}.cuYuhQ .sc-1cmj4ml-0{margin-bottom:16px}.eBMXOi{max-width:100%;clear:both}@media(min-width:1000px){.kFNaRc .sc-qvufca-1{padding:0 16px}}.fzuCgM{overflow:hidden;height:0;color:transparent}.fmcHss{max-width:100%;margin:0 0 20px}.fmcHss.sticky{position:sticky;top:16px}.hlxBlR{min-height:600px}.hlxBlR #mpu1,.hlxBlR #sidebar1{position:sticky;top:16px}.MxpAk{min-height:250px}.geUkoM{position:relative;top:1px;color:#222;color:light-dark(#222,#fff);text-decoration:none}.foWGns{display:flex;align-items:flex-start;gap:8px;padding:12px 0 12px;margin:0;font:bold 24px/28px 'Indy Sans','Indy Sans Fallback',sans-serif;letter-spacing:-0.0208em}@media(min-width:768px){.foWGns{font:bold 28px/32px 'Indy Sans','Indy Sans Fallback',sans-serif;letter-spacing:-0.0178em}}@media(min-width:1000px){.foWGns{padding:12px 0 12px}}.foWGns .sc-1qoqv7v-1{position:relative;top:1px;color:#222;color:light-dark(#222,#fff);text-decoration:none}.heAsFJ{--size:28px;width:var(--size);height:var(--size);flex-shrink:0}@media(min-width:768px){.heAsFJ{--size:32px}}.heAsFJ svg{width:100%;height:100%}.bkpWNY{max-width:100%;margin-bottom:16px}.fBeQQZ{padding:12px 0;margin:0}.fBeQQZ span{position:absolute;overflow:hidden;width:.01em;height:.01em;padding:0;border:0;clip:rect(0,0,0,0);white-space:nowrap}.gDgfia{--gap:12px;display:flex;overflow:hidden;min-height:390px;flex-direction:column;gap:var(--gap);padding:0;margin:0;list-style:none}.gDgfia li{padding:0 0 var(--gap);margin:0;border-bottom:1px solid #d3d3d3;border-bottom:1px solid light-dark(#d3d3d3,#919191)}.cNiGkK{max-width:123px;max-height:33px}.lalKQb .sc-154e2ak-2{min-height:368px}.lalKQb li:has(.sc-10i6w7u-0){padding:0;border:0}.fgtiQY{min-height:1924px}@media(max-width:767px){.fgtiQY{display:none}}.eqQkhO{width:308px;min-height:100%;margin-left:auto}.eqQkhO.hidden{display:none}@media(max-width:999px){.eqQkhO{display:none}}.article-liveblog .dzfINj{background-color:#f7f7f7;background-color:light-dark(#f7f7f7,#222)}.jBkNwU{justify-content:center}.cumEve{justify-content:center}@keyframes hqVOOe1548920386{from{transform:translateX(0)}to{transform:translateX(-100%)}}@keyframes bReFEb1548920386{from{transform:translateX(100%)}to{transform:translateX(0)}}
Stay up to date with notifications from The Independent Notifications can be managed in browser preferences.
Not now Yes please
News World Americas US Crime News FTX founder Sam Bankman-Fried to be released on $250m bail after first US court appearance Former head of failed crypto exchange was extradited to US after arrest in Bahamas
FTX: Sam Bankman-Fried arrives back in US after extradition from Bahamas
The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US FTX founder Sam Bankman-Fried will be released on $250m bail after he appeared in a US courtroom after being extradited to New York from the Bahamas to face fraud charges.
Prosecutors accused the 30-year-old former head of the failed cryptocurrency exchange of allegedly carrying out “one of the biggest financial frauds in US history”.
Mr Bankman-Fried, who has denied the charges against him, arrived back in the US on Wednesday night and appeared in court in New York for the first time on Thursday.
A federal judge in New York ruled that Mr Bankman-Fried could be released on bail in an agreement drawn up between prosecutors and his defence team. He will also be required to live at his parents’ home in Palo Alto, California.
Mr Bankman-Fried was at the centre of “a fraud of epic proportions,” assistant US attorney Nicolas Roos told the court.
While Mr Bankman-Fried was flown back to the US, prosecutors in Manhattan announced that two of his closest associates had been charged and pleaded guilty.
Carolyn Ellison, 28, the former chief executive of Mr Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.
US attorney Damian Williams said that both of them were cooperating and had agreed to assist in any prosecution. He also warned anyone else involved in the alleged fraud to cooperate with his office.
“If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly, and our patience is not eternal,” he said.
Mr Bankman-Fried will appear again in court in New York on 3 January.
FTX collapsed in early November after mass customer withdrawals and the firm declared bankruptcy on 11 November.
Mr Bankman-Fried has accepted that there were risk-management failures at FTX but says that he has not acted criminally.
He faces wire fraud and securities fraud charges and could be sentenced to 115 years in prison if convicted.
Last month he claimed that he had not “knowingly” misused customers’ money and said he believed they will eventually be made whole again.
He made the comments during an interview with Andrew Ross Sorkin at a conference hosted by The New York Times .
“I didn’t ever want to commit fraud on anyone. I was shocked at what happened this month,” Mr Bankman-Fried said .
Thank you for registering Please refresh the page or navigate to another page on the site to be automatically logged in Please refresh your browser to be logged in