Sam Bankman-Fried posts $250 million bail after first court appearance | USA TODAY

Failed cryptocurrency exchange FTX founder Sam Bankman-Fried is out of jail after posting a $250 million bail.

RELATED: Former FTX executives plead guilty to fraud charges, SBF in custody https://bit.ly/3WXKo15

Sam Bankman-Fried, founder of the failed cryptocurrency exchange FTX, was released on a $250 million bond following his first appearance in federal court, where he is accused of misappropriating billions of dollars in customer funds in one of the largest fraud schemes in U.S. history.

The enormous personal recognizance bond, which federal prosecutors described as perhaps the largest ever, is to be co-signed by his parents and two other suretors, and will be secured by his parents’ Palo Alto, California, home.

As a further condition of release, Bankman-Fried must live in his parent’s home with electronic bracelet and other electronic monitoring. He was prohibited from opening new lines of credit, businesses and barred from transactions over $1,000, except to pay lawyers.

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