Sam Bankman-Fried pleads not guilty

In one wayftx the holiday season in Joseph Bankman and Barbara Fried’s house was like many others. Adult children who have fled the nest often return home for the festive period. Their son, Sam Bankman-Fried, the founder of , a now defunct crypto exchange, did the same. He flew to Palo Alto, California, on December 22nd and departed shortly after New Year’s Day.Yet he did so in slightly different circumstances from most. After the collapse of his empire in November, Mr Bankman-Fried was arrested in the Bahamas, before being extradited to New York to face . He flew to California on December 22nd only after a judge in the South District court of New York agreed to release him on a $250m “appearance bond”, which his parents and two other people agreed to pay if he did not comply with the terms. These require him to appear in court, wear an ankle monitor and live with his parents. On January 3rd he returned to New York—this time to plead not guilty to the various charges he faces.