A new bail agreement between U.S. prosecutors and lawyers for Sam Bankman-Fried (SBF), the former CEO of bankrupt crypto exchange FTX, has restricted SBF's access to messaging apps.
The new terms are pending approval by U.S. District Judge Lewis Kaplan.
The agreement came shortly after Kaplan, overseeing SBF's case, said the former CEO should be sent to prison pending trial.
- As part of the deal, SBF will not be able to use any electronic communication devices except for a phone without internet access and a laptop with limited capabilities.
- The new phone will allow only text messages and voice calls, and SBF will not be able to use any messaging apps on the device.
- The laptop will also be constantly monitored through user activity tracking software, and SBF will not have any administrative access.
- In any case of a possible violation, SBF will have to send devices for review.
- SBF's parents also signed sworn affidavits that they would not bring prohibited electronic devices into the home.
- SBF will appear in court on Oct. 2 to defend himself against over a dozen criminal charges, of which he has pleaded not guilty to eight.
The former FTX CEO was extradited from the Bahamas to the U.S. in December and released on a $250M bond to home detention at his parents' home in California.
- Concerns around SBF's attempt to contact FTX executives in January caused federal prosecutors to seek severe restrictions on his internet access.
