FTX's Sam Bankman-Fried has bail revoked and is headed to jail

Embattled FTX founder Sam Bankman-Fried has had his bail revoked and will be placed back under arrest.

Judge Lewis Kaplan of the District Court for the Southern District of New York reportedly ordered the 31-year-old's bail be revoked on Friday over accusations that he attempted to intimidate witnesses. Bankman-Fried was arrested last year on fraud allegations stemming from his management of the cryptocurrency exchange FTX, which suddenly collapsed in 2022.

Bankman-Fried will be detained through the duration of his criminal trials, according to reports from reporters inside the courtroom. Kaplan reportedly said that Bankman-Fried shared information with reporters with the intention “to hurt and frighten” former Alameda Research CEO Caroline Ellison, who was also his former girlfriend.