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Sam Bankman-Fried fights for crypto transfer rights at FTX

Sam Bankman-Fried

Sam Bankman-Fried, the former CEO of crypto exchange FTX, has asked a judge to allow him access to assets and crypto held by the company, claiming there is no evidence that he is responsible for previous alleged unauthorized transactions.

Bankman-Fried resigned as CEO of the exchange in November 2022, when it filed for bankruptcy, and is currently on bail facing charges including wire fraud and money laundering, to which he has pleaded not guilty.

As part of his bail conditions, Bankman-Fried was prohibited from accessing cryptocurrency held by FTX and its trading arm, Alameda Research, after the government pointed to illicit transfers made from Alameda wallets.

The bar includes crypto purchased with FTX or Alameda funds. In a recent letter, Bankman-Fried’s lawyer argued that the bail condition should be removed as there is no evidence to support it.

The U.S. Department of Justice has also requested a communications ban as an additional bail condition, claiming that Bankman-Fried had attempted to contact FTX’s General Counsel and a potential witness in the case.

Bankman-Fried’s lawyer agreed to this restriction but requested that he still have access to some former staff members, including his therapist.


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