Sam Bankman-Fried seeks access to FTX's wallet
As the FTX founder appears to push his bail terms further, authorities warn that the process may be rigged.
As the FTX founder seems to be trying to push his bail terms further, authorities warn the process may be rigged.
Lawyers seek Sam Bankman-Fried’s rights to manage the bankrupt FTX exchange's cryptocurrencies. They say it’s now clear their client wasn’t responsible for several improper transactions during the bankruptcy. As a result, a ban on the founder from taking crypto would be unnecessary.
Historic Bail
The terms of his historic bail had barred him from access to FTX's crypto assets for fear he would siphon the funds. Meanwhile, authorities want to further restrict several activities for him.
As an extra bail condition, the U.S. Department of Justice has also asked for a communications blackout for Bankman-Fried. The reason is that Bankman-Fried allegedly "manipulated" witnesses during the current proceedings.
Reports say he pressured former colleagues and FTX’s chief attorney via text messages.
The judge handling the case granted the request partially but opposed a full ban. This would have kept Bankman-Fried from even hiring a lawyer and talking to his therapist. A claim of an "unreasonable use of his resources," as the judge put it.
