Co-signers of Bankman-Fried’s $250 million bond a step closer to becoming public

The names of two people who co-signed for disgraced FTX founder Sam Bankman-Fried’s bond are one step closer to becoming public after a federal judge granted a motion to unseal their names. The identities could be made public next month.

“The information sought … traditionally is public information,” U.S. District Court Judge Lewis Kaplan wrote in a court filing on Monday afternoon. “In my view, the individual bonds should be on the public record.”

Bankman-Fried has pleaded not guilty to a litany of criminal charges, including fraud, and is awaiting an October trial. His parents, Joseph Bankman and Barbara Fried, co-signed his $250 million bond in December. A pair of additional signers, whose names have so far been redacted, also signed lesser bonds for $500,000 and $200,000.

A group of news organizations asked the court to unseal the names of the two unknown signers, one of whom was required to be a non-family member. News organizations argued that the public has a right to the information, while Bankman-Fried’s lawyer has said the signers might face threats and harassment if their identities are revealed. 

Kaplan granted the motion, which is stayed until Feb. 7 in case of an appeal. The stay will remain until Feb. 14 if the court receives a notice of appeal. Prosecutors are also seeking to amend Bankman-Fried’s bail terms, alleging that he has reached out to a witness in the case. 

Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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