FTX founder Bankman-Fried to be released on $250 million bail

Federal prosecutors and civil regulators filed charges last week that Bankman-Fried and his accomplices perpetrated a multi-year fraud that stole billions of dollars from FTX investors and customers.

On Wednesday evening, US Attorney Damian Williams announced that two key members of the former billionaire’s inner circle – Caroline Ellison and Gary Wang – had pleaded guilty to criminal charges and were cooperating with prosecutors in an investigation into the incident. collapse of FTX.

The Securities and Exchange Commission and the Commodity Futures Trading Commission have also filed charges against Bankman-Fried, Ellison and Wang.

The SEC case includes allegations that they participated in a scheme to raise the price of FTT – a native digital token of the FTX exchange – which the agency has identified as an investment security.