SBF bond signers revealed to be former Stanford faculty; FTX bankruptcy judge rules against probe

Two notable developments regarding bankrupt cryptocurrency company FTX and its former CEO Sam Bankman-Fried occurred in court on February 15th.

Stanford University members sign SBF bail

Earlier, Judge Lewis Kaplan allowed two individuals who signed Sam Bankman-Fried’s bail bond to be publicly identified during his criminal trial.

court documents today It revealed that The signatories (or guarantors) of these bonds were a senior research scientist and former Stanford Law Dean of Stanford University who signed the $200,000 and $500,000 bonds respectively.

Bankman-Fried’s parents are professors at Stanford University. In comments to CoinDesk, the former dean said his friendship with his family was the reason he posted bail.

Bankman-Fried asked two bond signatories on Jan. 3 to remain private. A judge allowed him to reveal their identities on Jan. 30, but Bankman-Fried was given time to appeal. As a result, the identity of the signatory has not been revealed to this day.

FTX doesn’t need more probes

In another FTX bankruptcy proceeding, the judge dominated it No additional independent inquiry was required and the motion to appoint an independent examiner was denied.

Judge John Dorsey said it would cost tens of millions of dollars to appoint an independent examiner, and would likely exceed $100 million. By reducing compensation, he said, it would impose an indirect cost.

The judge said FTX’s successor CEO, John Ray III, appointed independent directors and experts with little connection to FTX to investigate the company’s past actions. He said these parties are competent to carry out their duties.

Judge Dorsey ruled that established law does not require the appointment of an examiner, and the court can refuse to appoint one.

The U.S. Department of Justice was behind the initial call for examiners. The judge was undecided on whether to appoint an examiner as of February 6.