ftx,Sam Bankman-Fried The saga continues: According to two news outlets, the exchange’s founder has submitted another bail request two days after his first bail application was rejected.
Bankman-Fried, former CEO of massive failure that ended up as FTX exchange, makes first bail application Bahamas Supreme CourtReuters Reported on Friday, citing a source familiar with the matter. According to sources, the application was made on Thursday.
beyond, BahamasEyewitness News also gave this information on Thursday. Said The Supreme Court will hear the bail application on January 17, though it did not cite its sources.
news outlet forward Having said that Secretary of State Fred Mitchell said that,
“The FTX issue was a commercial failure and the jurisdiction in which the failure occurred has nothing to do with the actual alleged crimes,” [and] that businesses in the Bahamas will survive regardless of the situation.”
try and try again
The new application comes two days after a judge rejected Bankman-Fried’s bail application on Tuesday.
Therefore, the disgraced founder is currently living in a Bahamian detention center as of February 8, while he awaits his extradition hearing United States of americaNoting that Chief Magistrate Joanne Ferguson-Pratt refused Bankman-Fried’s earlier request to stay at her home.
The experience is not likely to be a pleasant one given the alleged conditions of the detention centre. as Reportedconditions on fox hill was described by 2021 US State Department Report as “hard”. Problems include overcrowding, lack of toilets and rats sharing living space.
However, Don Cleary, the commissioner of correctional services, claimed that conditions had improved since then, with most facilities having been renovated.
was bankman-fried Arrested On 12 December he was formally charged with financial crimes by US prosecutors in the Bahamas. US Attorney of Southern District of New York He pleaded guilty on eight criminal charges, including wire fraud and conspiracy by misappropriation of customer funds. If convicted on all counts, he could face up to 115 years in prison. separately, US Securities and Exchange Commission Bankman-Fried of “creating a scheme to defraud equity investors in FTX”.
Meanwhile, John Ray III, the new FTX CEO, revealed on Tuesday that the new leadership has “secured more than $1 billion in digital assets to protect them from the risk of theft or unauthorized transfer.”
At 10:30 UTC on Friday morning, FTX’s native FTT coin was trading at $1.31, down 3.3% in a day and 4.1% in a week. Overall, it fell 30% in 30 days and 97% in a year.
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