FTX Crypto King Sam Bankman-Fried Arrested In Bahamas, Officials Say
Neither country’s officials offered details on the charges, but Bankman-Fried is expected to be extradited to the United States.Kevin Hart, Gwyneth Paltrow, Madonna, Jimmy Fallon & Others Cuffed With “Insidious” NFT Endorsements Suit; Manager Guy Oseary & Universal TV Named As Defendants Too
“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the office of The Bahamas Attorney General Ryan Pinder said in a statement. Valued at $32 billion by private investors earlier this year, FTX has been on the verge of collapse since last month, when rival Binanceof the crypto giants. That news sent cryptocurrency markets into freefall, and Bankman-Fried said at the time that his company was facing an $8 billion shortfall in funds due to the sudden “run” on the exchange. In three days, traders pulled some $6 billion from the platform.
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