Sam Bankman-Fried’s (SBF) lawyers have reached an agreement with U.S. prosecutors on revised bail conditions.
The agreement was struck after a judge raised the prospect of sending SBF to jail pending trial.
Under the new conditions, the disgraced FTX founder would have a new phone with no internet capability and a basic laptop with limited functions.
SBF will be forbidden from using other electronic communication devices. The laptop will have monitoring software to track user activity and Bankman-Fried won’t have administrative access to prevent tampering with the restrictions.
Also, the new phone’s communication functions will be limited to text messages and voice calls, with all other messaging applications prohibited.
Bankman-Fried’s parents also agreed to restrict his access to their devices.
If there’s reasonable suspicion of a violation, Bankman-Fried must submit his devices for a search.
SBF faces a trial set for Oct. 2 on criminal charges of stealing billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund, and making large illegal political donations to buy influence in Washington, D.C.
He has pleaded not guilty to eight counts and has not yet been arraigned on four more.