Former FTX CEO Sam Bankman-Fried bail revoked ahead of October trial

Sam Bankman-Fried, the former CEO of the now-bankrupt crypto exchange FTX, had his bail revoked ahead of his October trial, US District Court Judge Lewis Kaplan said on Friday.

The decision came after allegations that Bankman-Fried leaked the diary of Caroline Ellison, the former CEO of FTX’s adjacent firm Alameda Research, to the New York Times. Kaplan announced the decision in a federal court in Manhattan on Friday afternoon. 

Initially, Bankman-Fried requested access to Google Drive, which he said was “for discovery,” Inner City Press reported that Assistant US Attorney Danielle Sassoon said on Friday at the hearing. “Then he used it to give Ms. Ellison’s documents to the New York Times.”

He was formerly under house arrest at his parents home in Palo Alto, California, on a $250 million bond, since his December 2022 arrest, but is now facing repercussions for allegedly intimidating witnesses like Ellison.

The federal judge said a gag order wasn’t sufficient given Bankman-Fried’s repeated misbehavior for crossing “a line“

This is a developing story and will be updated as more information arises.