Bankman-Fried bail denied

Fried is set to go back to jail on Tuesday for theft and violating the Foreign Corrupt Practices Act

Judge Joyann Ferguson-Pratt ordered an extradition hearing for Bankman-Fried in February 2023. Initially, his attorneys asked the judge to consider releasing him on $250,000 bail

One month ago, FTX, one of the largest cryptocurrency exchanges in the world, collapsed. The losses have been extreme: billions of dollars worth of customer value has been lost.

The SEC and CFTC are suing Bankman-Fried on a number of securities fraud allegations following yesterday's U.S. Department of Justice prosecution

Bankman-Fried will remain in the Bahamas’s notorious Fox Hill prison until his next hearing

The prosecutors in the Bahamas argued that granting Bakhman-Fried bail for this case would violate a treaty with the U.S., and that defendants must be held in custody pending an extradition proceeding.