Apparently, Sam Bankman-Fried leads a decent lifestyle while on house arrest at his parents’ house in Palo Alto, with daily jogging, a security team and a couple of house visits..
It’s not exactly a life of endless luxury, though. Apparently, the former CEO of FTX is required to wear an ankle monitor and can only leave home under certain circumstances, among other restrictions.
The aforementioned Palo Alto house, located on the edge of the Stanford University campus, is worth $4 million. and is equipped with five bedrooms, three bathrooms and a pool, according to real estate listings.
However, the property has had to be entrenched by both sides, as Bankman-Fried has received death threats. The house has become something of a tourist attraction for the curious.
His family pays USD 10,000 a week to a private security companyaccording to an article published on December 27 in the New York Post.
As part of the December 22 bail agreement, Bankman-Fried must wear an ankle monitor, has been forced to hand over his passport and is also required to seek approval for any transaction over $1,000. He is also not allowed to possess a firearm, any other weapon or “destructive device”.
You may only leave the property to exercise, undergo drug or mental health treatment – which, apparently, he has already done – and various reports indicate that he has been out running daily with his security team in tow.
While this is a far cry from the Bahamian penthouse he previously lived in, it seems much better than the conditions in his cell at Fox Hill Prison in the Bahamas.
Having said that, some members of the crypto community have spoken out against the release of Bankman-Fried on bail, especially considering that he was able to do so without any advance payment.
SBF will be spending Christmas at home with his parents playing video games rather than locked up in a cell. What kind of justice is that?
— Layah Heilpern (@LayahHeilpern) December 23, 2022
SBF will spend Christmas at home with his parents playing video games instead of locked up in a cell. What kind of justice is that?
Instead, his parents’ property has been put up as collateral for the record $250 million bail, after Bankman-Fried claimed to have just $100,000 in his bank account following the FTX collapse.
Apparently, he has already received a visit from journalist Michael Lewisauthor of popular trading-focused books The Big Short, Liar’s oPoker and Flash Boyswho apparently has been concentrating on SBF for months as part of a book project.
On Dec. 28, cryptocurrency blogger Tiffany Fong revealed on Twitter that she had visited Bankman-Fried at her parents’ house the night before. to have a “conversation”.
Fong was one of the first to interview Bankman-Fried after the exchange’s bankruptcy in November.and he is expected to write about the meeting after his vacation.
I met with Sam Bankman-Fried last night.
I haven’t written anything thoughtful out about our conversation – I’m just sharing because I’m getting some questions about this. I’m still in holiday mode & am visiting family at SF atm, so please be patient.
—Tiffany Fong (@TiffanyFong_) December 28, 2022
I met with Sam Bankman-Fried last night. I have not written anything thoughtful about our conversation; I’m only sharing it because I’m getting some questions about it. I’m still on vacation and visiting family in SF so please be patient.
Bankman-Fried has denied criminal responsibility numerous times since the FTX collapse. He is scheduled to appear in federal court in New York on January 3 to arraign on charges of wire fraud and conspiracy.
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