Lawyers for Sam Bankman-Fried, the founder of crypto exchange FTX, have agreed on new bail conditions with U.S. prosecutors, according to court documents filed on Monday.
Among the conditions submitted for approval to District Judge Lewis Kaplan of the Southern District of New York, Bankman-Fried will be given a new phone that won't have internet access and will be limited to text messages and voice calls. He will also be provided a new laptop with limited functionality that will be allowed access only to approved websites.
Bankman-Fried's parents, in whose home the FTX founder will be residing, have agreed not to allow their son to use their devices nor bring unpermitted devices into the home.
Following his arrest in December, Bankman-Fried was released on bail on a $250 million bond, co-signed by his parents, who put up their home in Palo Alto, California as collateral.
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