Bad News for SBF: Court Decides Against, Names of Guarantors to be Announced

FTXn’s bankruptcy caused a major disruption and a serious impact on the entire market. Sam Bankman-Fried After his arrest, justice was partially served.

Sam Bankman-Fried’s $250 Million Bails Decided to Be Made Public

SBF was released on $250 million bail and is currently under house arrest. While his family was part of this bail, the other two guarantors remained confidential.

However, this may soon change. According to sources, U.S. District Judge Lewis Kaplan decided to make the details of these persons public.

Their identities were withheld after SBF’s parents were threatened. The potential for “media scrutiny” and “harassment” was highlighted, despite the fact that these two individuals had no connection to the FTX case.

However, Judge Kaplan said:

“The information in question is based only on a weak assumption, but the opposing factors are not convincing enough to break even that assumption.”

It should be noted that the judge believed that neither side of the argument had much basis.

Still, the judge accepted applications “to defend the alleged right of access to the public” to the identities of the SBF’s guarantors.

U.S. District Judge Lewis Kaplan has postponed the execution of his decision until February 7 to allow an appeal.

In addition, numerous media outlets, including the Associated Press, Bloomberg, CNBC, Dow Jones, The Financial Times, Insider and the Washington Post, had previously sent a letter to Judge Kaplan on the same subject.

Lawyers for these media companies also said:

“The public’s right to know about Bankman-Fried’s guarantors outweighs their right to privacy and security.”

Most of the community guessed that one of the guarantors was Kevin O’Leary from Shark Tank. “Mr. Wonderful” had publicly defended the SBF several times after the bankruptcy.

O’Leary also addressed rival exchange Binance at the same time. For this reason, some users suggest that he may be one of them, despite losing $15 million.

The name of American billionaire investor Bill Ackman also emerged as he previously supported SBF in the midst of the decline.

*Not investment advice.

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