Moments ago, authorities in the Bahamas announced that Sam Bankman-Fried (SBF) was arrested. If you haven’t been following the FTX saga, SBF is the Founder and Former CEO of FTX, a cryptocurrency exchange that recently collapsed and lost billions of dollars. Most of the money belonged to customers.
According to a press release issued by the Office of the Attorney General, SBF was brought into custody by The Royal Bahamas Police Force after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government. The press release also noted that the arrest was made because authorities in the United States have officially filed criminal charges against SBF.
Authorities say they plan to extradite him as soon as U.S. officials request it.
“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,” a statement, attributed to Attorney General Ryan Pinder, read. “At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.”
This is a breaking story and will be updated.
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