By takowi on Skatehive
FTX Founder SBF Cashes Out $684K Following Release on Bail In a recent report, SBF, the founder of FTX, a money lending firm, was released from jail and he reportedly cashed out $684K. While it is unclear why the man was released, it is likely that he violated one or more of the conditions of his release. FTX founder cashed out $684K while under house arrestOne of the world's most popular cryptocurrency exchanges, FTX, is experiencing some issues. The exchange has filed for bankruptcy and the government of the Bahamas has seized over $3.5 billion worth of the crypto assets it held. After the seizure, Sam Bankman-Fried, the FTX founder, was placed under house arrest. He is barred from leaving his home or carrying firearms. His passport has also been seized. While under house arrest, Bankman-Fried is believed to have cashed out large amounts of crypto. Analysts from DeFi believe that Bankman-Fried likely broke the terms of his release. The former FTX CEO is barred from financial transact