SBF expected to receive insurance coverage as anticipated, $250 million in sky-high collateral not required to be paid in cash

SBF's unwillingness to be extradited changed upon entering Fox Hill Prison in the Bahamas, reportedly because he expected to be granted bail upon returning to the United States, which he was indeed granted upon his return.

SBF's attitude towards extradition changed upon entering Fox Hill Prison in the Bahamas, reportedly because he expected to be granted bail upon returning to the United States, which he was indeed granted as anticipated.

Although the bail amount is a staggering $250 million, the bail agreement is based on a personal recognizance bond, requiring SBF to provide collateral equivalent to 10% of the bail amount, which still amounts to $25 million.

The appearance bond submitted to the court is jointly guaranteed by four individuals, with two of the guarantors being SBF's parents, Allan Joseph Bankman and Barbara Fried, as shown in the legal documents, including a property owned by SBF's parents, valued at only $4 million on the real estate website Zillow.

Other bail conditions include electronic monitoring, house arrest, restrictions on spending, business activities, and firearms possession. SBF is prohibited from engaging in other businesses or activities and must surrender his passport. He is required to stay at his parents' home in California until his next court appearance on 1/3.