Sam Bankman-Fried, Prosecutors Reach New Bail Agreement

Sam Bankman-Fried, Prosecutors Reach New Bail Agreement
Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives for his court hearing at a federal court in New York on Feb. 9, 2023. Shannon Stapleton/Reuters
Reuters
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NEW YORK—Lawyers for Sam Bankman-Fried said they reached an agreement with U.S. prosecutors on Monday on revised bail conditions, after a judge raised the prospect of sending the indicted FTX cryptocurrency exchange founder to jail pending trial.

Under some of the proposed new conditions, Bankman-Fried would have a new phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices.