November 22, 2024

Rise To Thrive

Investing guide, latest news & videos!

Sam Bankman-Fried’s life on bail: Armed guards, daily jogs and gawkers

2 min read
Sam Bankman-Fried's life on bail: Armed guards, daily jogs and gawkers

Sam Bankman-Fried has reportedly been leading a decent lifestyle while under house arrest in his parent’s home in Palo Alto — with daily jogs, a security detail, and a couple of in-home visits.

However, it’s not exactly a life of endless luxury either. The former FTX CEO is reportedly required to wear an ankle monitor and is only allowed to leave the house under certain circumstances, among other restrictions.

The aforementioned Palo Alto home, located on the border of Stanford University’s campus is understood to be a $4 million property equipped with 5 bedrooms, 3 bathrooms, and a pool according to real estate listings. 

The property has had to be barricaded on both ends however, as Bankman-Fried has reportedly faced death

While this is still a far cry from the Bahamas penthouse he was previously living in, it still appears far better than the conditions of his cell in Fox Hill prison in The Bahamas. 

That being said, some in the crypto community have been vocal about Bankman-Fried’s release on bail, particularly considering he was able to do so without any upfront payment.

Instead, hs parents’ property has been put up as security for the record $250 million bond, after Bankman-Fried claimed to only have $100,000 in his bank account following the collapse of FTX.

He’s reportedly already been visited by Michael Lewis, the writer of the popular trading-focused film Big Short who appears to be turning the FTX saga into a movie.

On Dec. 28, cryptocurrency vlogger Tiffany Fong revealed on Twitter she had visited Bankman-Fried in his parent’s home for a “conversation” just the night before.

Fong was one of the first to interview Sam Bankman-Fried after the exchange went bankrupt in November, and the vlogger is expected to write about the meeting after her holiday.

While Bankman-Fried has denied criminal liability numerous times since the collapse of FTX, he is set to appear in a New York federal court on Jan. 3 and is expected to enter a plea agreement to charges of wire fraud and conspiracy.