FTX founder Sam Bankman-Fried has bail revoked, ordered into custody

A judge has ordered FTX founder Sam Bankman-Fried to be jailed ahead of his criminal trial, siding with federal prosecutors who argued that Bankman-Fried engaged in witness tampering and violated the terms of his bail.

Bankman-Fried was put into custody directly from the Manhattan courthouse, and will remain in a New York federal detention center until his trial on Oct. 2, according to the judge.

The 31-year-old has been confined to his parents’ home in California since December, when he was extradited from the Bahamas on charges that he defrauded investors through his now-defunct cryptocurrency exchange.

The terms of Bankman-Fried’s bail had been tightened in the months before the ruling, but it was ultimately Bankman-Fried’s contact with the media that led to his detention.

In July, Bankman-Fried shared private diary entries of Caroline Ellison, his former romantic partner and the CEO of FTX’s trading arm, with a reporter from the New York Times at his parent’s home in California. Prosecutors have characterized the leak as an attempt at witness intimidation, and described the July 20 article as the tipping point in their push to revoke Bankman-Fried’s bail.

Both the New York Times and the Reporters Committee for Freedom of the Press advocated against jailing Bankman-Fried, filing letters that argued the detention would violate Bankman-Fried’s freedom of speech.

Bankman-Fried’s defense attorneys argued that he had a First Amendment right to repair his reputation, and cited that there was no gag order that prohibited him from talking to media.

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