He was arrested at the request of the United States, with US officials seeking to charge him following the collapse of his FTX platform.

Highlights

Wall Street regulators also said that they would be taking action against Mr Bankman-Fried
FTX became the second largest crypto exchange in the world

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FTX founder Sam Bankman-Fried arrested in Bahamas

Name: FTX founder Sam Bankman-Fried arrested in Bahamas
Uploaded: 2022-12-13T09:18:32.000+05:30
Duration: T00M46S
Channel: AFP
Description: Last month FTX filed for bankruptcy in the US, leaving many users unable to withdraw their funds

Last month FTX filed for bankruptcy in the US, leaving many users unable to withdraw their funds

Updated: Sep 02, 2022 10:53

AFP

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FTX founder Sam Bankman-Fried arrested in Bahamas

Disgraced cryptocurrency tycoon Sam Bankman-Fried was arrested Monday in the Bahamas at the request of the United States, according to US officials seeking to charge him after the spectacular collapse of his FTX platform.

The arrest comes on the eve of Bankman-Fried's scheduled appearance at a US Congress hearing in which he was to testify under oath about the crypto exchange's overnight demise.

The 30-year-old had in recent weeks defied legal advice and multiplied media appearances offering his version of his company's sudden failure, usually by video link from the Bahamas where his company is headquartered.

Last month FTX filed for bankruptcy in the US, leaving many users unable to withdraw their funds.