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FTX cryptocurrency entrepreneur Sam Bankman-Fried arrested in Bahamas

2022-12-13 08:32:24Kosova&Bota SHKRUAR NGA REDAKSIA VOX

FTX cryptocurrency entrepreneur Sam Bankman-Fried arrested in Bahamas

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been arrested in the Bahamas, according to a statement from the country's attorney general, the BBC writes.

Police said Bankman-Fried was arrested for "financial violations" against laws in the US and the Bahamas. According to a court filing last month, FTX owed its 50 largest creditors almost $3.1 billion.

Bankman-Fried was once billed as a new version of legendary American investor Warren Buffett, and as of the end of October had a net worth of more than $15 billion.

He had become known in Washington DC as a political donor, mostly to politicians or Democratic groups, who supposedly supported pandemic prevention and the crypto system.

FTX was founded in 2019 by Bankman-Fried, a former Wall Street trader, and former Google employee Gary Wang. FTX has traded around $10 billion worth of cryptocurrency per day.

But on November 11, FTX declared bankruptcy.


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