After a first request for bail refused, Sam Bankman-Fried reiterated his request, with the hope of returning home, pending the hearing which must decide on his extradition to the United States. Meanwhile, SBF is being held in the infirmary at Fox Hill Prison, and is said to be “in good spirits”.
Sam Bankman-Fried seeks bail
Last Tuesday, Sam Bankman-Fried (SBF) was denied a first request for bail by Chief Magistrate JoyAnn Ferguson-Pratt. According to Reuters, SBF then reiterated a new request, filed on Thursday.
The former CEO of FTX thus hopes to return home, awaiting the hearing on February 8, who must decide whether or not to extradite him to the United States. Remember that he faces up to a maximum of 115 years in prison, given the eight counts against him.
Thus, the Supreme Court of the Bahamas must examine Sam Bankman-Fried’s request for release on January 17. Awaiting the verdict, the person concerned therefore remains in pre-trial detention at the Bahamas Department of Corrections at Fox Hill.
👉 To go further – Learn how to secure and store your cryptocurrencies away from centralized platforms
The best way to secure your cryptocurrencies 🔒
🔥 The world leader in crypto security
SBF is “in a good mood”
For now, Sam Bankman-Fried and restrained in the prison infirmary for user reviews. Doan Cleare, the acting commissioner of corrections, noted that he was “in a good mood», and gives some information on the details of his detention:
“Mr. Fried is housed in the maximum security unit of the infirmary. He receives his medication on time. The only physical visits allowed at this time are his lawyers, as well as US Embassy staff. All the others will be done by videoconference. He is with five other inmates in a dormitory. »
Regarding drugs, SBF is indeed known for taking several treatments, including a daily Emsam patch for example. Said patch contains selegiline, a molecule derived from methamphetamine used to fight Parkinson’s disease, or depression in some countries, as is the case for Sam Bankman-Fried.
So all this is just the beginning a long legal processduring which victims of FTX will demand answers and reparations.
👉 Also in the news – White House refuses to say if it will return Sam Bankman-Fried donations
Progress in the world of cryptocurrencies with Cryptoast experts 📘
Sources: Reuters, The Nassau Guardian
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.