News Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network (VPN) services while out on bail.
Legal proceedings around FTX’s downfall led SBF to avoid possible jail time with a $250 million bail bond. However, while on bond, the entrepreneur used Signal, an end-to-end encrypted messaging service, to contact former FTX and Alameda colleagues. Kaplan forbade SBF from using such apps and threatened to revoke bail privileges if he acted out of order.
Following up on this order, Bankman-Fried’s lawyer, Christian Everdell, revealed on March 18 that SBF and federal prosecutors “have been working diligently to agree on a set of specific bail conditions that will address the concerns expressed by the government and the court,” Bloomberg
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