In federal court in New York on Tuesday, Sam Bankman-Fried entered a not guilty plea to eight counts relating to the failure of his former cryptocurrency exchange FTX and hedge fund Alameda Research.

The former crypto millionaire was charged with conspiracy to conduct wire fraud and securities fraud, as well as money laundering, and conspiracy to circumvent campaign financing laws.

In a black SUV, Bankman-Fried pulled up outside the courthouse where he was immediately surrounded by photographers. As cameras raced to get a look of Bankman-Fried, the crowd got so dense that the woman couldn't get out of the car and fell to the wet pavement.

Photographers scrambled to get out of the way as Bankman-Fried was quickly dragged by security through the crowd and into the courthouse.

Bankman- Fried's representatives submitted a move to seal the names of the two people whose good behavior had been secured by a bond earlier in the day. They argued that the guarantors shouldn't be subjected to the same scrutiny because the defendant and the case's public profile had already put Bankman- Fried's parents at danger. Courtroom judge Lewis Kaplan granted the motion.

On December 21, Bankman-Fried arrived back in the United States from the Bahamas. The next day, he was freed on a $250 million recognizance bond, which was backed by his California family home.

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