Sunday 29 January 2023
Home / none / Sam Bankman-Fried’s life on bail: Armed guards, daily jogs and gawkers

Sam Bankman-Fried’s life on bail: Armed guards, daily jogs and gawkers

Sam Bankman-Fried has reportedly been leading a decent lifestyle while under house arrest in his parent’s home in Palo Alto — with daily jogs, a security detail, and a couple of in-home visits.

However, it's not exactly a life of endless luxury either. The former FTX CEO is reportedly required to wear an ankle monitor and is only allowed to leave the house under certain circumstances, among other restrictions.

The aforementioned Palo Alto home, located on the border of Stanford University’s campus, is understood to be a $4 million property equipped with five bedrooms, three bathrooms and a pool, according to real estate listings.

The property has had to be barricaded on both ends, however, as Bankman-Fried has reportedly faced death threats, while his home has turned into something of a tourist attraction for curious onlookers.

His family is shelling out $10,000 a week for a private security firm, according to a Dec. 27 article from the New York Post.

The home Sam Bankman-Fried is reported to be confined to. Source: Google Maps.

As part of the Dec. 22 bond agreement, Bankman-Fried is required to wear an ankle bracelet, has been forced to surrender his passport and is also required to seek approval for any transactions in excess of $1,000. He is also not allowed to possess a firearm, any other weapon or “destructive device”.

He is only able to leave the property for exercise, substance abuse treatment or mental health treatment — something he is understood to have taken up — with multiple reports indicating he has been going for daily jogs with his security detail in tow.

Related: Bankman-Fried may enter plea in NY federal court next week before Judge Lewis Kaplan

While this is still a far cry from the Bahamas penthouse he was previously living in, it still appears far better than the conditions of his cell in Fox Hill prison in the Bahamas.

That being said, some in the crypto community have been vocal about Bankman-Fried’s release on bail, particularly considering he was able to do so without any upfront payment.

Instead, hs parents' property has been put up as security for the record $250 million bond, after Bankman-Fried claimed to only have $100,000 in his bank account following the collapse of FTX.

He’s reportedly already been visited by journalist Michael Lewis, author of the popular trading-focused books The Big Short, Liar's Poker and Flash Boys, who reportedly has been embedded with SBF for over months as part of a book project.

On Dec. 28, cryptocurrency vlogger Tiffany Fong revealed on Twitter she had visited Bankman-Fried in his parent’s home for a "conversation" just the night before.

Fong was one of the first to interview Bankman-Fried after the exchange went bankrupt in November, and is expected to write about the meeting after her holiday.

Bankman-Fried has denied criminal liability numerous times since the collapse of FTX. He is set to appear in a New York federal court on Jan. 3 to be arraigned on charges of wire fraud and conspiracy.

Original Article

About Jude Savage

Check Also

Solana price rally risks exhaustion after SOL’s 120% pump in two weeks

Solana (SOL) price is up an impressive 60% since the new year, partially boosted by hype surrounding meme cryptocurrency Bonk (BONK). However, the SOL/USD pair now shows signs of exhaustion, raising anticipations that the token may see a short-term correction in the coming days. Solana turns overboughtSolana is one of the best performing cryptocurrencies so far in 2023 after being one of the biggest losers in 2022. On Jan. 9, SOL's price jumped to as high as $19.50, or around 120% gains in a recovery rally after sliding below $8 on Dec. 29, 2022. But the price spik also turned Solana into an overbought asset, per its daily relative strength index (RSI) reading above 70, as shown below. SOL/USD daily price chart. Source: TradingViewTraditional investors typically see an overbought RSI as a potential sell signal, given the indicator has historically coincided with a period of buyer exhaustion. As a result, SOL's price could enter a correction or a sideways consolidation stag..

Leave a Reply

Your email address will not be published. Required fields are marked *