The bail of Sam Bankman-Fried, founder and former CEO of cryptocurrency exchange FTX, has been revoked by the Federal Court and he has been ordered to be sent to jail. Federal Court Judge Lewis Kaplan made this decision in response to allegations that Bankman-Fried, also known as SBF, had been attempting to intimidate witnesses related to the FTX fraud case.
These allegations were brought to light by the New York Times reporter. Prosecutors voiced concerns about SBF continuously undermining the case, leading to discussions about canceling his $250 million bail. SBF has been out of jail on bail since December 2022.
During his time under house arrest, SBF was living comfortably and had access to the internet, smartphones, and other modern gadgets. He had even made requests for unrestricted visits from friends without investigation. However, with the recent court order, SBF will now have to remain in jail until the end of his two upcoming
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