Breaking news out of the Bahamas: Sam Bankman-Fried, the founder and former CEO of the cryptocurrency giant FTX, has been arrested by U.S. authorities on criminal charges. The Royal Bahamas Police Force said in a statement that Bankman-Fried was taken into custody at his home in Nassau and is expected to appear in court tomorrow.
Attorney General Ryan Pinder said that U.S. authorities are expected to request his extradition. This comes after FTX experienced the equivalent of a bank run last month, leading to Bankman-Fried’s resignation and the company filing for bankruptcy protection.
More information is expected to be released tomorrow.
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