Sam Bankman-Fried, the founder and former CEO of troubled cryptocurrency exchange FTX, will have to spend some days in custody after a Bahamas judge ruled he should be denied bail on Tuesday.
Magistrate Judge Joyann Ferguson-Pratt ordered that there be an extradition hearing next year, on Feb. 8, 2023, at 10:00 a.m. ET.
Bankman-Fried’s attorneys initially asked the judge to consider that he be released on a $250,000 bail, arguing he needed to be able to regularly take medication, including Zyrtec, an over-the-counter allergy medication, and keep to his vegan diet.
Earlier in the day, police escorted Bankman-Fried’s parents to his home in Albany in the Bahamas to pick up Adderall, another medication. Bankman-Fried testified on Tuesday that he uses Emsam patches for depression, as well as 10 mg of Adderall every four hours.
Prosecutors in the Bahamas argued that granting Bankman-Fried bail would go against a treaty with the U.S., which required defendants to be held in custody pending extradition proceedings. Bankman-Fried told the judge he would not waive his right to fight the extradition effort, suggesting he may seek to remain in the Bahamas.
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