LATEST: Sam Bankman-Fried's application for bail has been denied after a judge determined he was too much of a flight risk.
Sam Bankman-Fried's application for bail was denied on Tuesday after a judge determined he was too much of a flight risk.-ABC News' Will GretskyEmail this article
"This administration has consistently urged Congress to take action to address regulatory gaps posed by digital assets and support legislative efforts to enact crypto legislation to better protect American consumers that just last month Secretary [of the Treasury Janet] Yellen, in fact, called on Congress to 'move quickly to fill the regulatory gaps.
Williams said he authorized charges against Bankman-Fried on Wednesday of last week. A grand jury returned an indictment Friday. In addition to fraud and conspiracy, the indictment alleged Bankman-Fried violated campaign finance laws by making tens of millions of dollars in campaign donations -- to both Republicans and Democrats -- with stolen funds. The contributions were made in the name of Alameda Research with money taken from FTX, the indictment alleged.
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