Sam Bankman-Fried, the billionaire CEO of the FTX cryptocurrency exchange, has found himself in legal trouble following his recent arrest for driving under the influence. However, he has received support from unexpected sources in his quest for bail.
Larry Kramer and Andreas Paepcke, two well-known figures in the tech world, have reportedly offered to back Bankman-Fried’s bail, according to sources close to the matter. This move has caused quite a stir, as the two men are not typically associated with the crypto industry.
Paepcke is a senior research scientist at Stanford. The other is Larry Kramer, former dean of Stanford Law School.
The unsealed records show that on January 25, Kramer signed a $500,000 bond to ensure Bankman-Fried’s return to court, and Paepcke signed a $200,000 bond.