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FTX founder Sam Bankman-Fried arrested in Bahamas | LiveNOW from FOX
Posted
December 13, 2022
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4:28Now PlayingSam Bankman-Fried, disgraced founder of the cryptocurrency exchange FTX was arrested in the Bahamas Monday, authorities said.
Bahamian authorities said Bankman-Fried’s arrest came after the United States filed charges against him and was likely to request extradition.
The U.S. District Court for the Southern District of New York confirmed Bankman-Fried's arrest based on a sealed indictment from the court.
FTX filed for bankruptcy on Nov. 11 when the firm ran out of money after the cryptocurrency equivalent of a bank run. Customers tried to withdraw their assets all at once because of growing doubts about the financial strength of the company and its affiliated trading arm, Alameda Research.
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