ASX set to fall as Wall Street plunges in Christmas sell-off; FTX founder released on $US250m bail
Key EventThe former crypto wunderkind Sam Bankman-Fried has been released on $US250 million bail by a US judge as he awaits trial for fraud, money laundering and conspiracy over the collapse of the FTX cryptocurrency exchange.
He will be under house arrest at his parent's home in California, must surrender his passport, and undergo regular mental health treatment and evaluation. Mr Bankman-Fried has been accused of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Meanwhile, his former associates, Caroline Ellison, and Gary Wang, have pleaded guilty to fraud charges over the collapse of FTX and are co-operating with prosecutors.
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