Former FTX boss Sam Bankman-Fried will face home detention while awaiting trial in the US on charges that he defrauded customers and investors of the collapsed cryptocurrency exchange, the BBC reports.
A US judge said the 30-year-old former billionaire could be released to his parents on a $250m bond.
At the hearing, Mr Bankman-Fried did not admit or deny guilt.
He has previously distanced himself from the charges, which have shaken the entire crypto industry.
“I didn’t knowingly commit fraud. I don’t think I committed fraud. I didn’t want any of this to happen. I was certainly not nearly as competent as I thought I was,” he told the BBC, shortly before his 12 December arrest in the Bahamas, where he lived, and FTX was based.
Two of Mr Bankman-Fried’s closest colleagues pleaded guilty to fraud on Wednesday and are helping with the investigation.
Federal prosecutors in New York have accused Mr Bankman-Fried of unlawfully using customer deposits made at FTX to fund his other crypto firm, Alameda Research, buy property and make millions of dollars in political donations.