Beautiful Virgin Islands

Wednesday, Jul 16, 2025

We just learned the names of the 2 people secretly guaranteeing Sam Bankman-Fried's $250 million bond

We just learned the names of the 2 people secretly guaranteeing Sam Bankman-Fried's $250 million bond

A federal judge has unsealed the names of two people who are sponsoring Sam Bankman-Fried's $250 million bond, siding with media organizations — including Insider — who argued in court that their identities should be made public.
Larry Kramer, a former dean of Stanford University's law school, contributed $500,000 to the bond, according to court records unsealed Wednesday afternoon. Another person named Andreas Paepcke, who appears to be a research scientist at Stanford University, gave $200,000 for the bond, records show.

Bankman-Fried's parents, Joseph Bankman and Barbara Fried, who are both professors at Stanford University's law school, have also contributed to the bond. They guaranteed the value of their home in Palo Alto, California, where the FTX founder is allowed to remain ahead of a criminal trial on fraud charges.

Kramer told Insider that he and his wife are friends with Bankman-Fried's parents.

"Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s," Kramer wrote in an email. "During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends – bringing food, providing moral support, and frequently stepping in at moment's notice to help. In turn, we have sought to support them as they face their own crisis."

He also said he had no business interest in the $500,000 he contributed towards Bankman-Fried's bond.

"My actions are in my personal capacity, and I have no business dealings or interest in this matter other than to help our loyal and steadfast friends," Kramer wrote. "Nor do I have any comment or position regarding the substance of the legal matter itself, which is what the trial will be for."

In December, federal prosecutors in Manhattan brought eight criminal counts against Samuel Bankman-Fried, alleging he "orchestrated a years-long fraud" by misleading investors and customers about FTX, his cryptocurrency exchange, and commingling funds with Alameda Research, a hedge fund he also controlled. Bankman-Fried pleaded not guilty to the charges.

Lawyers for Bankman-Fried have spent the weeks since his arrest trying to keep the names of Paepcke and Kramer secret, arguing the two would be subject to harassment if their names were made public.

But US District Judge Lewis Kaplan on January 30 sided with media organizations — including Insider — which argued that it was in the public's interest to reveal the names.

"Given Mr. Bankman-Fried's relationships and access to some of the most wealthy, powerful, and politically connected individuals, including elected officials, access to the identity of the bond sureties will bolster trust in the judicial process here," lawyers for the news organizations argued in a filing.

The judge ruled that the public interest outweighed any privacy rights the sponsors had and that they knew what they were getting into.

"The non-parental bail sureties have entered voluntarily into a highly publicized criminal proceeding by signing the individual bonds," Kaplan wrote in his January 30 decision.

Kaplan gave Bankman-Fried's lawyers a chance to appeal his decision. But while they filed a document indicating they intended to appeal, they failed to file a separate request asking the appeals court to pause Kaplan's order, leading to the names of Kramer and Paepke to be unsealed Wednesday.

A representative for Bankman-Fried declined to comment. Paepcke and representatives for Stanford University and Stanford Law School didn't immediately respond to Insider's request for comment.

Prosecutors and Bankman-Fried's attorneys are still wrangling over the terms of his home confinement conditions. In the past week, prosecutors and the judge have raised concerns that Bankman-Fried has access to tools that allow him to auto-delete and encrypt messages, and to use a virtual private network, or VPN, that allows him to disguise his internet activity.

His attorneys said in court filings that Bankman-Fried used a VPN to watch NFL playoff games and the Super Bowl.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
×