Breaking News

  Sam Bankman-Fried, the founder of Alameda Research and CEO of FTX, has been indicted by the U.S. Department of Justice on multiple counts of conspiracy to commit wire fraud, wire fraud, and conspiracy to defraud the U.S. and violate campaign finance laws. The counts include allegations of misappropriating customer deposits and providing false information to lenders regarding Alameda Research's financial condition. Bankman-Fried has yet to be extradited to the U.S. For more crypto news and updates, be sure to follow @_ClassicCrypto on Twitter.  

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. Be sure to follow @_ClassicCrypto on Twitter for the latest breaking news and crypto updates.