The collapse of FTX had a significant influence on the market as a whole. After Sam Bankman-Fried was taken into custody, justice was partially done. He was nonetheless given a huge $250 million bond and is now under home arrest.
His parents were guarantors of this bond, but the identities of the other two remained secret. In the future, though, it may alter quickly. US District Judge Lewis Kaplan reportedly ordered that information on these people can be made public.
After threats were made against SBF’s parents, these people’s names were kept a secret. Not just that. The likelihood that the two may face “harassment” and “media attention” while having no link to the FTX case was emphasized. Judge Kaplan, however, said,
“The information at issue is entitled only to weak presumption of access, yet the countervailing factors are not sufficiently persuasive to overcome even that presumption.”
It should be mentioned that the Judge thinks the arguments on both sides didn’t carry much weight. He still proceeded with the petitions “for the restricted purpose of claiming the public’s claimed right of access” to the names of SBF’s guarantors.
US District Judge Lewis Kaplan delayed the order’s effect until February 7 to allow for an appeal.
Furthermore, a number of media outlets, including the Associated Press, Bloomberg, CNBC, Dow Jones, The Financial Times, Insider, and the Washington Post, wrote Judge Kaplan a letter about the matter in the past. The lawyers for these media companies added,
“…the public’s right to know Bankman-Fried’s guarantors outweighed their privacy and safety rights.”