US Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial: FTX Founder's Bail in Jeopardy

The legal battle surrounding Sam Bankman-Fried, founder of the collapsed cryptocurrency firm FTX, is intensifying. Manhattan federal prosecutors want disgraced FTX cryptocurrency mogul Sam Bankman-Fried jailed ahead of his fraud trial, claiming he “crossed a line.” As he considers their request, Prosecutors are asking a federal judge to put Sam Bankman-Fried in jail ahead of his trial, which is scheduled to start in October.

NEW YORK (AP)A judge is weighing whether to revoke Sam Bankman-Fried's bail after prosecutors said Wednesday that the FTX founder used the news media to potentially tamper with witnesses. Federal prosecutors asked a judge to revoke FTX founder Sam Bankman-Fried’s bail and send him to jail, ratcheting up a monthslong battle over his behavior while on release.

The US judge's decision is critical. Sam Bankman-Fried, who was arrested on fraud charges last year after the collapse of his cryptocurrency firm, must await trial behind bars, a US judge has ordered. NEW YORKFTX founder Sam Bankman-Fried was sent to jail ahead of his October trial on multiple financial crime charges after a federal judge revoked his release.

The prosecutors' argument centers on allegations that Bankman-Fried attempted to influence potential witnesses through communication with the press. The judge's ultimate ruling will significantly impact the trajectory of the high-profile fraud case and the fate of the former crypto executive.