The person who used to be the boss of FTX, SBF, can’t get out of jail anymore. A judge in the US said so. They think SBF did something wrong with the people who saw things and shared private stuff with the New York Times.
Sam Bankman-Fried, the person who used to be in charge of FTX, is now in jail because a judge in the US said he can’t be out of jail anymore. This happened before his trial, where he has to answer to many money-related crimes because FTX didn’t do well in November 2022.
The judge, named Lewis Kaplan, decided this because he thought there’s a good chance that Bankman-Fried did things to change what the people who saw things say.
The people who make sure the law is followed also said that Bankman-Fried gave private writings from someone he used to work with, Caroline Ellison, to a reporter from The New York Times, which isn’t the right thing to do.
The Background Story Behind Former FTX CEO SBF’s Jail Situation
Bankman-Fried, who used to be very rich, was allowed out of jail in December 2022 after he paid $250 million as a promise that he will follow the rules. But later, the rules were made stricter because it seemed like he didn’t follow them right. He could only use a phone without the internet and a computer with some limits.
The main reason for sending him back to jail was that the U.S. Department of Justice said he did things to change what people say. They showed that he used a special way to talk to people and gave private things from someone’s diary to a newspaper called New York Times.
The judge, Lewis Kaplan, also saw that the things from the diary were about personal stuff, not work. This made him decide to send Bankman-Fried back to jail.
As the trial day of October 2 gets closer, everyone who knows about crypto is waiting to see what happens. That will decide if Bankman-Fried is really guilty of the money problems that made FTX not do well.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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