2 - 4 minute read
In a shocking turn of events, the lawyers of Sam Bankman-Fried (SBF), the former CEO of FTX, have reported that three men drove their vehicle into a metal barricade outside of his parents’ house in California. This incident comes after SBF and his family have admitted to becoming targets of intense media scrutiny, harassment, and even physical threats in the wake of the collapse of FTX, which resulted in multi-billion dollar investor losses and turned SBF into one of the most infamous figures in the cryptocurrency space.
The US authorities have accused the 30-year-old of being the main culprit behind the collapse, committing several crimes such as money laundering and fraud. This has led to a wave of criticism from affected investors, many of whom also blame him for the event.
According to SBF’s attorneys, the three individuals crashed their car into the barricade of his current home and told a security officer, “You won’t be able to keep us out.” They then got back in the vehicle and drove away without being recognized. The man guarding the home in Palo Alto was unable to record the car’s license plate.
This incident occurred nearly a month after a New York federal judge allowed SBF to live at his parents’ house on a record $250 million bond. Prior to that, he spent a week in the Bahamian Fox Hill Prison. The trial on October 2, 2023, will rule whether he played a role in the FTX demise and determine his final sentence.
The lawyers disclosed earlier this month that his mother – Barbara Fried – and father – Joseph Bankman – have received “a steady stream of threatening correspondence, including communications expressing a desire that they suffer physical harm.”
The $250 million bond that enabled SBF to await his trial at his parents’ house has sparked significant controversy in the crypto community. Leading media outlets, including Bloomberg, CNBC, The Financial Times, The Washington Post, and others, have urged the judge overseeing the case to reveal the names of the people who allowed it.
SBF’s lawyers have declined to provide details on the request, explaining that there is a high chance that those sureties will suffer similar harassment like Ms. Fried and Mr. Bankman should their profiles become publicly known: “Given the notoriety of this case and the extraordinary media attention it is receiving, it is reasonable to assume that the non-parent sureties will face significant privacy and safety concerns if their identities are disclosed.” Prosecutors have not yet taken any steps to honor the appeal of the media outlets.
In light of these recent events, it is clear that the situation surrounding SBF and the collapse of FTX is far from over, and it remains to be seen what will happen in the upcoming trial. The safety and well-being of all involved should be of the utmost concern, and it is crucial that the necessary steps are taken to ensure their protection.
