Breaking: FTX Founder Sam Bankman-Fried to Be Released on $250 Million Bail to Parents’ Palo Alto Home

Sam Bankman-Fried, the disgraced founder of FTX, will be released on $250 million bail to home detention at his parents' California home, a judge ruled Thursday.

Judge Gabriel Gorenstein ordered Bankman-Fried to submit to "strict" supervision at the home. He will also be required to surrender his passport and to receive mental-health and substance-abuse treatment.

Bankman-Fried was indicted on eight counts, including including securities fraud and money laundering.

He appeared in Federal District Court in Manhattan on Thursday hours after arriving in the U.S. from the Bahamas, where he was arrested on December 12 and held in custody in a local jail.

Bankman-Fried’s parents, both of whom are Stanford Law professors, have put up the equity in their home to secure the $250 million personal recognizance bond for their son.

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