Bloomberg, WSJ, CoinDesk Among the Media Outlets Seeking to Know Who Bailed Out Sam Bankman-Fried
Lawyers for the former CEO of failed crypto exchange FTX requested and were granted anonymity for two parties who backed the $250 million bond that sprung Bankman-Fried from jail.
A wide range of major media groups has taken legal action to reveal the identities of the two non-parental parties who co-signed Sam Bankman-Fried's $250 million bail bond.
Following the collapse of crypto exchange FTX, Bankman-Fried was arrested in the Bahamas and then extradited to the U.S. to face a number of charges from federal prosecutors. A U.S. judge in late December released Bankman-Fried on $250 million bail backed by his parents and two other parties whom his lawyers requested remain anonymous, citing privacy and safety concerns.
“The public’s interest in this matter cannot be overstated,” said one filing made Thursday to U.S. District Judge Lewis Kaplan in the Southern District of New York on behalf of the Associated Press, Bloomberg, Financial Times, CNBC, Reuters, Dow Jones (publisher of the Wall Street Journal) and Washington Post, among others. "Mr. Bankman-Fried stands accused of perpetrating one of the largest financial frauds in history."
"Any purported interest in keeping these names secret or private is outweighed by the tremendous public interest in the identities of these individuals,” law firm Kolis said in a separate legal filing made on behalf of CoinDesk.
"The public has a clear and powerful interest in who these allies may be," the filing continued. "The risk of illegitimacy and public scandal cannot be evaluated without knowing who Bankman-Fried’s guarantors are."
The New York Times made a separate filing on the same issue Wednesday.
Bankman-Fried’s lawyers have cited physical threats as a reason to keep the details secret. He has pleaded not guilty to all charges including wire fraud and money laundering, and was released on bail Dec. 22.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.