Note: as a practical matter, SBF's out-of-pocket is probably between 25-50 million (bondsmen normally charge 10%-20%, depending on risk factors and bail amount), and SBF's parents have this much in assets and savings to cover it (and can probably take loans to cover any shortfall), though this will definitely wipe out any of their legitimate holdings.
FTX founder Sam Bankman-Fried to be released on $250M bail
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Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#12Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#13Wait. Only a few days ago he declared he had less than 100k on his bank account and now he forks out 250m? It's hard to believe anything else he said.
His parents had to put up their home for the bond.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#14I feel sorry for his parents - legal fees is going to financially wipe them out and any plans for retirement.
I'd rather stick to my mediocre returns of my money market accounts than this crypto forex NFT nonsense.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#15Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#16How does he have 10% of that?
"His parents, both Stanford Law professors who were present in the courtroom, will put up the equity in their home to partially satisfy bail conditions."
Sure their bay area home is worth millions but not that much.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#17His ex-girlfriend and CEO of Alameda really put the nail in the coffin. Turned on him for 250K$ bail, forfeiture of all assets and basically no prosecution (except some taxes) as long as she co-operates. Probably dropped the entire playbook of Sam and made the case irrefutable and ironclad. https://s3.documentcloud.org/documents/23495436/crypto-coope...
Who cashed out the whistleblower reward?
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#18Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#19Impressive. He was just short 10B of customer funds and managed to come up with 250M so quickly! Must be a legendary trader.
Likely needed 25M for actually posting bail. He also did a lot of nice things and has a lot of friends, not to mention family. No big stretch of the imagination here.
Which bail bond company came up with the other $225M?