FTX founder Sam Bankman-Fried was released on a $250m bond on 22 December and ordered to stay at his parents’ Palo Alto, California, home, after the former executive’s first appearance in a New York federal court following his extradition from the Bahamas.

Bankman-Fried, charged with engaging in criminal conduct that contributed to the cryptocurrency exchange’s collapse, came to court shackled by the ankles and wearing a charcoal grey suit. He sat quietly at the defence table, flanked by his lawyers.