FTX Founder Sam Bankman-Fried Released On Bail

Sam Bankman-Fried, founder of FTX, was arraigned in Manhattan and released on $250 million bail. He is accused of defrauding investors by diverting funds to his hedge fund, Alameda Research. Two executives, Caroline Ellison and Gary Wong, have pleaded guilty and are cooperating with the investigation. The SEC alleges they were key participants in the fraud. The investigation is ongoing, and if convicted, Bankman-Fried faces up to 115 years in prison.

What was the amount set for Sam Bankman-Fried's bail?

• $250 million

• $1 billion

• $100 million

• $500 million

What did the SEC accuse Sam Bankman-Fried of doing with FTX investor funds?

• Donating to charity

• Pouring them into his hedge fund, Alameda Research

• Funding a new startup

• Investing in cryptocurrency

Who are the two executives that pleaded guilty in connection with the FTX fraud?

• John Doe and Jane Smith

• Caroline Ellison and Gary Wong

• Michael Johnson and Sarah Lee

• David Brown and Emily White

What role did Caroline Ellison and Gary Wong play in the FTX fraud?

• They were whistleblowers

• They were passive investors

• They were unaware of the fraud

• They were active participants in the scheme

What is the maximum prison sentence Sam Bankman-Fried could face if convicted?

• 50 years

• 115 years

• 75 years

• 100 years