Sam Bankman-Fried, the former CEO of FTX, was granted bail last week on the conditions of a $250 million bond that he would be on house arrest at his parent's house in Palo Alto, California. His parents secured his bail with the equity in their house. Word has quickly spread of SBF's location, prompting the family to fortify the home.
NYPost reported the family had contracted a private security firm in the Bay Area to patrol the grounds for $10,000 per week to protect SBF from mounting death threats.
One source told the Post, "They're [family] nervous ... there have been numerous death threats. They're not taking any chances."
Days ago, NYPost reported Bankman-Fried's parents hired workers to construct a network of security cameras around the home on the edge of Stanford University's campus.
"Stanford officials have also taken steps to secure the area around the Bankman-Fried homestead, barricading both ends of their short block and stationing privately contracted security guards at the gates," NYPost added.
Drove past SBF of FTX parents home in Stanford ....the street is blocked with serious looking private security in a truck. Didn't even get close enough for a great pic. Surprisingly no press. pic.twitter.com/NgmK7Kzbyp— Kendall Ananyi🦄🌟🌟🌟🌟 (@kananyi) December 28, 2022
The fear is SBF has become a sitting duck at his parent's home on Cooksey Lane. The NYPost published the location of the street in a picture of a private security guard in front of the house.
There have been numerous incidents at Cooksey Lane. Visitors have stopped by, and at least one person who "lost everything" in the FTX collapse gazed upon SBF's current lodgings.
And here's something that makes you go, hmm...
Alameda has started dumping tokens again, just days after SBF arrived home. $SOL, $LDO and $APT are amongst the most affected, dropping ~10% in a matter of hours.— Miles Deutscher (@milesdeutscher) December 28, 2022
Live now to explain exactly what’s going on 👉: https://t.co/2ICdYHuUkB pic.twitter.com/iZfxnEo909