Sam Bankman-Fried Arranging Bail Requirements

Key Points:

• Counsel for former FTX CEO Sam Bankman-Fried is currently in talks with U.S. prosecutors to “resolve the outstanding issues related to Bankman-Fried’s bail conditions,” according to a court filing.
• Bankman-bail Fried’s requirements on February 1 to forbid him from getting in touch with any former or present Alameda Research or FTX employees.

Counsel for former FTX CEO Sam Bankman-Fried is currently in talks with U.S. prosecutors to “resolve the outstanding issues related to Bankman-Fried’s bail conditions,” according to a court filing.

“The parties would like to continue these discussions, which we are optimistic will lead to an agreement between the parties in the next few days and eliminate the need for further litigation,” Bankman-Fried’s counsel, Mark Cohen, wrote in a letter to the court filed Feb. 2.

Authorities claim that Bankman-Fried has communicated with both current and former FTX and Alameda staff members. Bankman-Fried allegedly attempted to sway future witness testimony by communicating with Ryne Miller, the current general counsel for FTX US.

“I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” Bankman-Fried wrote in an email to Miller, according to a previous Department of Justice filing.

Additionally, it is claimed that Bankman-Fried contacted new FTX CEO John Ray to “offer assistance.”

A judge changed Bankman-bail Fried’s requirements on February 1 to forbid him from getting in touch with any former or present Alameda Research or FTX employees. Additionally, he cannot use any Signal-like encrypted chat applications.

Cohen, Bankman-attorney, Fried’s stated that the former executive needed to stay in touch with the former workers as they are a “important source of personal support,” including the company’s in-house therapist George Lerner.

Additionally, Bankman-attorneys Fried’s have asked the court to lift the bail restriction preventing him from accessing and moving the cryptocurrency assets that FTX is holding for him.

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