# How did SBF post a $250M bail without $250M?

**Published by:** [Durwin](https://paragraph.com/@durwin/)
**Published on:** 2023-03-22
**URL:** https://paragraph.com/@durwin/how-did-sbf-post-a-250m-bail-without-250m

## Content

Bankman-Fried, who remains free on a $250 million personal recognizance bond after being first charged in late 2022, has pleaded not guilty to all 12 charges.“Bankman-Fried has pleaded not guilty to eight counts of fraud and conspiracy related to the collapse of his crypto empire, including trading platform FTX and trading house Alameda Research.” Some say he is the literal personification of “white privilege” in the modern era. He burned a $9B crypto empire to the ground. He defrauded investors, betrayed FTX users and lied to investigators. He treated the billions of dollars that users entrusted to him as Monopoly money. He was awfully cavalier and nonchalant about it all. He abused drugs, played video games, lobbied with the government, hobnobbed with the media and financial elites, and portrayed an image of a crypto boy wonder. He brutally manipulated the trust and respect that millions have given him.Ex-FTX CEO Sam Bankman-Fried has put his luxury Bahamas penthouse up for sale for $40million after the company filed for bankruptcy on Friday.Yet, when it all came crashing down and he was hauled back to the US to face the music, he was afforded some amazing privilege. While on bail, he is free to walk, do anything in his parent’s house, he could use the internet, access to his daily routine, write his substack and conduct media interviews! Meanwhile, Tornado Cash developer Alexey Pertsev, who was arrested in the Netherlands in August shortly after the U.S. sanctioned the crypto privacy tool, is still in jail. No privilege. No justice. No due process. Granted, these are two different justice system in two different countries, but it shows just how different the treatment is for SBF vs Alexey.SBF, who was once worth $26 billion, says he tried to survive on a jar of peanut butter when in a Bahamian prison.2 annons helped post the $250M bail. Everyone was curious who it was. To put their necks on the line and help SBF. Was it Kevin O’Leary? Was it Elon Musk? It could only be someone near and dear to the Bankman-Frieds. So when the 2 anonymous bailors were revealed to be Stanford Professors close to SBF’s parents, it was not that surprising. “The identities of his bond guarantors were revealed this week to be Larry Kramer, dean emeritus at Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University.” Why did they do it? Kramer: “Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s. During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends — bringing food, providing moral support and frequently stepping in at moment’s notice to help. In turn, we have sought to support them as they face their own crisis”.Barbara Fried and Joseph Bankman are the parents of FTX cofounder Sam Bankman-Fried. They have supported him all this time, through the rise and fall of FTX.A friend in need, is a friend indeed. “My actions are in my personal capacity, and I have no business dealings or interest in this matter other than to help our loyal and steadfast friends. Nor do I have any comment or position regarding the substance of the legal matter itself, which is what the trial will be for,” Kramer added.” While I applaud Kramer’s courage for standing by his dear friends, many others will not see it that way. Kramer made it clear that his actions are solely to help out SBF’s parents. He doesn’t care about Sam or FTX. But if SBF’s parents care deeply about SBF, and posting bail is what matters, Kramer will do just that. Valiant or villain? You decide. There is one thing that lingers in my mind. I have never been good at the math department but something didn’t add up.See SBF’s bail of $250M is the highest ever in history. Sure you don’t have to pay the full sum in cash. Traditionally just 10% upfront is warranted. But 10% of $250M is still $25M. Both Stanford friends helped with $700k, SBF’s parents pledged their house worth $4M. That’s only $4.7M. How did they account for the other $20.3M??? I scoured the internet, shook trees and flipped rocks. I even interrogated ChatGPT and Bing under the threat of shaming their ignorance. But to no avail. Seems like nobody have the answers. If you have information, please share! - Would you have posted bail for SBF? - #startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sambankmanfried #sbf #ftx #stanford #$250mbond #bond #collapse #fraud

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