Sam Bankman-Fried, the jailed founding father of bankrupt cryptocurrency alternate FTX, has reportedly filed a brand new utility for bail within the Bahamas Supreme Courtroom following his earlier unsuccessful bid for launch.

Native media on Dec. 15 reportedthat the founder submitted the applying and that it will be heard earlier than the courtroom in simply over one month’s time, on Jan. 17. Nonetheless the report didn’t cite any sources.

Beforehand, on Dec. 13, Bankman-Fried’s attorneys had argued for him to be set free on bail set at $250,000 as he had no prior convictions and was affected by despair and insomnia. The presiding choose denied bail, calling the crypto govt a flight danger.

Bankman-Fried is remanded at Fox Hill Jail, the one jail within the Bahamas. A 2021 U.S. State Division report stated circumstances at Fox Hill had been “harsh” and overcrowded with poor medical care, sanitation and vitamin. Correctional officers had been alleged to bodily abuse detainees.

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Extradition to the U.S. is on the playing cards because the Bahamian authorities has stated it is going to “promptly” course of any request. The FTX founder faces eight U.S. costs, together with cash laundering, wire fraud, and securities fraud.

The slew of costs might see Bankman-Fried land in jail for 115 years, however authorized commentators have instructed Cointelegraph there’s a “lot to play out,” saying the case might take years to resolve.