SBF reportedly filed a new bail application in the Supreme Court of the Bahamas

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Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX, has reportedly filed a new bail application with the Supreme Court of the Bahamas following his previous unsuccessful bail bid.

On December 15, local media reported that the founder had submitted the claim and it would be heard in court in just over a month, on January 17, 2023. However, he did not cite any sources.

Earlier, on December 13, Bankman-Frieds’ attorneys had argued for him to be released on bail set at $250,000 because he had no previous convictions and suffered from depression and insomnia. The presiding judge denied bail, calling the crypto executive a flight risk.

Bankman-Fried is being held at Fox Hill Jail, the Bahamas’ only prison. A 2021 United States Department of State report said conditions at Fox Hill were harsh and overcrowded with poor medical care, sanitation, and nutrition. Correctional officers have been accused of physically assaulting inmates.

Related: FTX Bahamas Co-CEO Ryan Salame Exposed FTX and Sam Bankman-Fried

Extradition to the United States is on the cards as the Bahamian government has said it will quickly process any extradition request as the exchange’s founder faces eight counts including money laundering. money, wire fraud and securities fraud.

The slew of charges could see Bankman-Fried land in jail for 115 years, but legal commentators told Cointelegraph there was ‘a lot to play for’, saying the case could take years to resolve .

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