Share this article
BTC
$118,811.27
-
0.20%ETH
$3,872.65
-
0.44%XRP
$3.1718
-
2.61%USDT
$0.9999
-
0.01%BNB
$828.07
-
3.44%SOL
$185.11
-
3.86%USDC
$0.9998
+
0.00%DOGE
$0.2301
-
4.80%TRX
$0.3305
+
2.54%ADA
$0.8026
-
3.82%HYPE
$44.77
+
0.50%SUI
$3.9602
-
6.34%XLM
$0.4321
-
2.24%LINK
$18.42
-
4.24%HBAR
$0.2762
-
3.16%BCH
$571.37
-
0.97%AVAX
$25.23
-
5.42%WBT
$44.30
-
0.41%LTC
$110.03
-
3.90%LEO
$8.9680
-
0.01%Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
Bloomberg, WSJ, CoinDesk Among the Media Outlets Seeking to Know Who Bailed Out Sam Bankman-Fried
Lawyers for the former CEO of failed crypto exchange FTX requested and were granted anonymity for two parties who backed the $250 million bond that sprung Bankman-Fried from jail.
A wide range of major media groups has taken legal action to reveal the identities of the two non-parental parties who co-signed Sam Bankman-Fried's $250 million bail bond.
Following the collapse of crypto exchange FTX, Bankman-Fried was arrested in the Bahamas and then extradited to the U.S. to face a number of charges from federal prosecutors. A U.S. judge in late December released Bankman-Fried on $250 million bail backed by his parents and two other parties whom his lawyers requested remain anonymous, citing privacy and safety concerns.
STORY CONTINUES BELOW
“The public’s interest in this matter cannot be overstated,” said one filing made Thursday to U.S. District Judge Lewis Kaplan in the Southern District of New York on behalf of the Associated Press, Bloomberg, Financial Times, CNBC, Reuters, Dow Jones (publisher of the Wall Street Journal) and Washington Post, among others. "Mr. Bankman-Fried stands accused of perpetrating one of the largest financial frauds in history."
"Any purported interest in keeping these names secret or private is outweighed by the tremendous public interest in the identities of these individuals,” law firm Kolis said in a separate legal filing made on behalf of CoinDesk.
"The public has a clear and powerful interest in who these allies may be," the filing continued. "The risk of illegitimacy and public scandal cannot be evaluated without knowing who Bankman-Fried’s guarantors are."
The New York Times made a separate filing on the same issue Wednesday.
Bankman-Fried’s lawyers have cited physical threats as a reason to keep the details secret. He has pleaded not guilty to all charges including wire fraud and money laundering, and was released on bail Dec. 22.
Jack Schickler
Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He previously wrote about financial regulation for news site MLex, before which he was a speechwriter and policy analyst at the European Commission and the U.K. Treasury. He doesn’t own any crypto.
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Top Stories
