Judge sends FTX crypto founder to jail

FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday when a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him.

Bankman-Fried drooped his head as Judge Lewis A. Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors’ witnesses, unless the 31-year-old was behind bars, AP reports.

After the hearing ended, Bankman-Fried took off his suit jacket and tie and turned his watch and other personal belongings over to his lawyers. The clanging of handcuffs could be heard as his hands were cuffed in front of him. He was then led out of the courtroom by US marshals.

It was a spectacular fall for a man who prosecutors say portrayed himself as “a saviour of the cryptocurrency industry” as he testified before Congress and hired celebrities including Larry David, Tom Brady and Stephen Curry to promote his businesses.