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FTX's SBF Headed to Jail: Details

Fri, 08/11/2023 - 19:45
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Alex Dovbnya
Sam Bankman-Fried, the embattled founder of the defunct FTX cryptocurrency exchange, faces imminent jail time
FTX's SBF Headed to Jail: Details
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FTX founder Sam Bankman-Fried is poised to serve jail time.

Based on findings, U.S. District Judge Lewis Kaplan concluded there exists credible evidence that Bankman-Fried was involved in witness tampering on multiple occasions, leading to the decision to revoke his bail.

Previously under house arrest in Palo Alto, California since the previous December, Bankman-Fried's situation was further complicated by a series of information leaks.

Kaplan stated that a gag order wouldn't be a feasible solution in the long run, especially when it comes to someone who constantly challenges and tests the limits.

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The defense is not backing down. Bankman-Fried's attorney has already announced intentions to appeal the bail revocation, requesting a delay in his client's detention pending the outcome of the appeal. Yet, this request was swiftly denied by Judge Kaplan. 

Bankman-Fried refuted allegations of witness tampering ahead of his upcoming fraud trial. 

As reported by U.Today, he was released from Manhattan federal court on a $250 million personal recognizance bond back in December.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at