Sam Bankman-Fried, co-founder of the disgraced cryptocurrency exchange FTX, will return to Stanford’s campus under house arrest in his parents’ Stanford residence, as first reported by The SF Standard.
Bankman’s parents, the law professors Joseph Bankman and Barbara Fried, own a 3000-square-feet home that is nestled behind the Row and across from the president’s mansion. Neither professor will be teaching classes at Stanford Law School next quarter.
In anticipation of his arrival, Stanford has increased security and closed some private university streets around the residence, according to University spokesperson Dee Mostofi.
“The safety of our community is our top priority,” Mostofi wrote. “[The Department of Public Safety] is adding temporary security in the affected neighborhood to minimize the impact on residents.”
A spokesperson for Bankman and Fried wrote that the professors “are grateful to be members of the Stanford community and for the services of the Stanford Department of Public Safety.”
After Bankman-Fried was arrested and put into federal custody in the Bahamas on Dec. 12, he was released by a Manhattan court Thursday on a record-setting $250 million bail.
The 30-year-old faces charges including wire fraud, securities fraud, money laundering, and campaign finance laws violations following the highly public crash of the cryptocurrency exchange FTX he co-founded in early November.
FTX, which was valued at $32 billion shortly before its crash, declared bankruptcy in November, leaving its customers unable to withdraw their money. As of this week, over $8 billion is still missing.
Some students aren’t pleased with how this reflects on Stanford.
“It’s a pathetic look on Stanford’s part when someone visiting campus sees all of the security around his house, wonders why they’re there, and finds out that a man accused of defrauding $1.8 billion is under house arrest in his childhood home,” wrote Alexander Worley ’25.
The conditions of Bankman-Fried’s house arrest include remaining at his parents’ Stanford residence, wearing an ankle monitor, undergoing regular mental health evaluations and a $1000 cap on credit withdrawals, according to court filings.
“[His parents] request privacy for their family during this time,” their spokesperson wrote.
A previous version of this article incorrectly stated the value of FTX before its crash. The Daily regrets this error.