Attorney for former FTX CEO Sam Bankman-Fried said on Monday, cryptocurrency He said the exchange’s founder had resolved a dispute with US prosecutors over bail terms.
Both parties are demanding that Bankman-Fried’s terms of bail be changed to allow him to use various messaging apps such as FaceTime, Zoom, iMessage, SMS, email, Facebook Messenger and WhatsApp.
The judge in Bankman-Fried’s fraud case in federal court in Manhattan last week temporarily banned the 30-year-old former billionaire from contacting FTX employees or the Alameda Research hedge fund.
He was also banned from using encrypted messaging tools like Signal.
The decision comes after prosecutors voiced concerns that Bankman-Fried might influence witnesses.
In a letter to US District Judge Lewis Kaplan on Monday, Bankman-Fried’s attorney, Mark Cohen, said the defense and prosecutors recommended that Bankman-Fried be allowed to use WhatsApp if he installed a monitoring system on his phone and recorded his messages.
It will also be allowed to use other digital communication tools such as Zoom, iMessage and Facebook messenger. Bankman-Fried would remain banned from using Signal.
FTX’s new management, seeking to withdraw political donations made by Sam Bankman-Fried and other FTX executives, has set a deadline for the end of the month, according to a February 5 statement.
This move forms part of bankruptcy proceedings and the crypto exchange’s effort to repay its creditors. According to FTX attorney Andy Dietderich, the bankrupt firm “reclaimed $5 billion in cash and liquid crypto” by January 11. Total liabilities amount to approximately 9 billion dollars.
*Not investment advice.
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