FTX Founder Arrested In The Bahamas

The arrest of the failed crypto exchange founder is based on a sealed indictment filed by the Southern District of New York.

The founder of failed crypto exchange FTX was arrested in the Bahamas on Monday.

Sam Bankman-Fried was arrested at the request of U.S. prosecutors that filed criminal charges against him.

The southern district of New York is currently investigating Bankman-Fried as well as the collapse of FTX and its sister trading firm, Alameda.

His arrest is based on a sealed indictment filed by the Southern District of New York.

Bankman-Fried’s company suffered a liquidity crisis and filed for bankruptcy leaving at least a million depositors unable to access their funds.

The charges he faces have not yet been revealed.