Sam Bankman-Fried Appeals Ruling to Reveal $250M Bond Backers’ Identity

• Former FTX Chief Sam Bankman-Fried has appealed a judge’s decision to make public the identities of two people who co-signed a $250 million bond for him.
• U.S. District Judge Lewis Kaplan ruled in favor of four separate petitions from news organizations seeking the names of those individuals who signed onto the bond earlier this month.
• Bankman-Fried’s lawyers had argued that there was a possibility of physical threats to the parties were reasons to keep their identities private.

Sam Bankman-Fried Appeals Judge’s Decision

Former FTX chief Sam Bankman-Fried has appealed a U.S District Judge Lewis Kaplan’s decision to allow the identities of two currently unidentified people who co-signed his $250 million bail bond to be made public, according to a filing made on Tuesday. It was already known that Bankman-Fried’s parents had also cosigned the bond, but the other names were kept private until now.

News Organizations File Suit

A slew of media companies, including Wall Street Journal, Bloomberg and CoinDesk had filed suit to get the court to release the identities of these two people, citing “the public’s interest in this matter cannot be overstated.”

Bankman-Fried’s Lawyers Argue Against Ruling

Bankman-Fried’s lawyers argued against ruling, citing potential physical threats as reason for keeping their identities private. Today, an appeal has been issued which sees Kaplan’s ruling being stayed until at least February 14th 2021.

Cryptocurrency Prices Remain High

The cryptocurrency market continues its bull run with prices remaining high across Bitcoin (BTC), Ethereum (ETH) BNB and XRP markets. At press time BTC is trading at $22,554 USD while ETH is trading at $1,621 USD and BNB is trading at $319 USD respectively .

Conclude & Disclaimer

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