Crypto Twitter confused by SBF's $250M bail and a return to luxury

force@newsletter.paragraph.com (force) — Fri, 23 Dec 2022 05:57:01 GMT

Crypto Twitter has seemingly taken issue with Sam Bankman-Fried’s $250 million bail bond, allowing him to spend Christmas in his parent’s Palo Alto home without paying a single dime upfront.

The former FTX CEO arrived in New York from the Bahamas on Dec. 21 and appeared in court on Dec. 22 where he was released on bail via a “personal recognizance bond” — essentially a written promise from the defendant that they will show up for future court appearances and not engage in any illegal activity while out on bail.

According to the release agreement filed on Dec. 22, no cash was required to be deposited with the court, but the bond conditions see to it that Bankman-Fried’s parent’s five-bedroom home in Palo Alto will be used as collateral for the $250 million bond.

HK legislator’s firm to lure 1,000 Web3 start-ups over 3 years

force@newsletter.paragraph.com (force) — Fri, 23 Dec 2022 05:56:09 GMT

A start-up accelerator co-founded by Hong Kong legislative council member Jonny Ng Kit-Chong wants to attract 1,000 Web3 businesses to set up shop in the city-state over the next three years.

Ng Kit-Chong is a member of the legislative council for the election committee constituency and has been in office since January this year. The engineer and politician has his finger in a lot of pots as he has declared owning shares in roughly 40 different companies.