FTX founder released to parents on $250m bail

Former FTX boss Sam Bankman-Fried will face home detention while awaiting trial in the US on charges that he defrauded customers and investors of the collapsed cryptocurrency exchange.

A US judge said the 30-year-old former billionaire could be released to his parents on a $250m (£207m) bond.

At the hearing, Mr Bankman-Fried did not admit or deny guilt.

He has previously distanced himself from the charges, which have shaken the entire crypto industry.

"I didn't knowingly commit fraud. I don't think I committed fraud. I didn't want any of this to happen. I was certainly not nearly as competent as I thought I was," he told the BBC, shortly before his 12 December arrest in the Bahamas, where he lived, and FTX was based. read more