Stanford Research Director, Former Dean Revealed to Be Bankman-Fried's Bond Signers

Bankman-Fried has two co-signers in addition to his parents.

AccessTimeIconFeb 15, 2023 at 6:42 p.m. UTC
Updated Feb 16, 2023 at 3:37 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A federal judge ruled the names of Sam Bankman-Fried's bond co-signers should be revealed after Bankman-Fried did not apply to the appeals court.

District Judge Lewis Kaplan, of the Southern District of New York, originally ruled in favor of news organizations, including CoinDesk, which argued the names of Bankman-Fried's signers were in the public interest, but did not rule pending an appeal. While Bankman-Fried's attorneys filed a notice that they would appeal, they did not file the actual appeal, the judge said in a new ruling Wednesday.

The signers were revealed to be Stanford University's Andreas Paepcke and Larry Kramer, who put up $200,000 and $500,000, respectively. Bankman-Fried's parents are both Stanford instructors. Paepcke is a senior research scientist while Kramer is a former dean of Stanford Law School.

Kramer told CoinDesk it was his friendship with Bankman-Fried's parents, Barbara Fried and Joseph Bankman, that led him to post bail for the now-disgraced former FTX CEO.

"Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s. During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends – bringing food, providing moral support and frequently stepping in at moment's notice to help. In turn, we have sought to support them as they face their own crisis," Kramer said in a statement provided to CoinDesk.

"My actions are in my personal capacity, and I have no business dealings or interest in this matter other than to help our loyal and steadfast friends. Nor do I have any comment or position regarding the substance of the legal matter itself, which is what the trial will be for," Kramer added."

Paepcke did not immediately return CoinDesk's request for comment.

Bankman-Fried was arrested in December but released on a $250 million bond. His parents signed for the bond, putting their Stanford home up as collateral. The names of the other two signers were initially redacted.

UPDATE (Feb. 15, 2023, 18:47 UTC): Adds additional details.

UPDATE (Feb. 15, 2023, 19:41 UTC): Adds comment from Larry Kramer.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Nikhilesh De

Nikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.

Cheyenne Ligon

Cheyenne Ligon was a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.


Learn more about Consensus 2024, 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.