Sam Bankman-Fried in talks to resolve bail dispute, lawyer says

According to his attorney, Sam Bankman-Fried is in discussions with American prosecutors to settle a disagreement on the bail requirements for the creator of the FTX bitcoin exchange.

According to his attorney, Sam Bankman-Fried is in discussions with American prosecutors to settle a disagreement on the bail requirements for the creator of the FTX bitcoin exchange.

After prosecutors expressed concerns that the 30-year-old former billionaire might tamper with witnesses, the judge presiding over Bankman-criminal Fried's fraud case in federal court in Manhattan on Wednesday temporarily banned the 30-year-old from contacting employees of FTX or his Alameda Research hedge fund.

His attorneys had earlier argued that the new bail condition was unnecessary since he had spoken with current officials at the now-bankrupt exchange to "give aid" rather than to meddle.

Bankman-Fried is being held under house arrest at his parents' California home after entering a not-guilty plea.

Defense attorney Mark Cohen requested U.S. District Judge Lewis Kaplan to delay a hearing on the topic scheduled for February 7 as well as a deadline of February 2 for him to provide justification for why he should be permitted to access and move cryptocurrencies before trial.

"The parties would want to continue these conversations," Cohen wrote, adding that prosecutors had agreed to the request. "We are hopeful that an agreement between the parties will result in the next few days and prevent the need for additional litigation."

The Manhattan U.S. Attorney's Office refused to comment via a spokeswoman.

Bankman-Fried, once projected to be worth $26 billion, was detained in December when FTX failed.

According to the prosecution, he stole billions of dollars from FTX customers' accounts to cover Alameda's losses. Two former coworkers have admitted their culpability and are assisting the prosecution.

FTX fell due to a lack of cash, according to Bankman-Fried, who admitted risk management mistakes but said he did not steal money. On October 2, a trial is planned.