The FTX founder was ordered to home confinement at his parents' home in Palo Alto, California.
Cryptocurrency entrepreneur Sam Bankman-Fried walked out of a Manhattan courthouse Thursday with his parents after they agreed to sign a $250 million bond and keep him at their Bay Area home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.
Bankman-Fried's parents, both law professors, put their home's equity as collateral for the bond. Bankman-Fried will be permitted to leave the Palo Alto home only for exercise or legal proceedings, the court said. The court also mandated that Bankman-Fried undergo mental health and substance abuse treatment. The entrepreneur was required to get an electronic monitoring bracelet before leaving the courthouse.
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