FTX Crypto King Sam Bankman-Fried Arrested In Bahamas, Officials Say
deadline.comDisgraced crypto king Sam Bankman-Fried was arrested today in the Bahamas, the Justice Department said. The Attorney General’s office of the Caribbean nation said the bust was made after U.S.
prosecutors formally charged the founder and former CEO of bankrupt cryptocurrency exchange FTX, whose wild story is a hot commodity in Hollywood.
Neither country’s officials offered details on the charges, but Bankman-Fried is expected to be extradited to the United States. “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 Binance balked at a proposed merger of the crypto giants.
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