FTX founder Sam Bankman-Fried to be released on $250 million bail and will live with his parents

euronews.com:

Cryptocurrency entrepreneur Sam Bankman-Fried walked out of a Manhattan courthouse on Thursday with his parents after they agreed to sign a $250 million (€235 million) bond and keep him at their California home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.

Assistant US Attorney Nicolas Roos said in federal court that Bankman-Fried, 30, "perpetrated a fraud of epic proportions". 

Roos proposed strict bail terms, including the $250 million (€235 million) bond — which he said is believed to be the largest federal pretrial bond ever — and house arrest at his parents' home in Palo Alto.

An important reason for allowing bail was that Bankman-Fried, who had been jailed in the Bahamas, agreed to be extradited to the US, Roos said.

Reunited with his parents and lawyers inside the courthouse, an apparently silent Bankman-Fried shook the hands of a supporter before heading out the door, where photographers and video crews rushed him until he left in a car.

Magistrate Judge Gabriel W Gorenstein agreed to the bond and house arrest, though he required that an electronic monitoring bracelet be affixed to Bankman-Fried before he left the courthouse. Roos had recommended it be attached Friday in California.

Bankman-Fried was shackled at the ankles when he entered the courtroom in a suit and tie to take a seat between his attorneys. He did not speak during the hearing except to answer the judge. Near its end, he was asked by Gorenstein whether he understood he would face arrest and owe $250 million (€235 million) if he chose to flee.

"Yes, I do," Bankman-Fried answered.

Soon afterwards, the hearing ended and Bankman-Fried, his hands in his front pants pockets, was led out by