FTX Founder Sam Bankman-Fried Arrested

CEO Sam Bankman-Fried resigns, FTX files for Chapter 11 bankruptcy.

Sam Bankman-Fried has been arrested by The Royal Bahamas Police Force following reports that the US filed criminal charges against the founder of FTX.

The Office of the Attorney General of The Bahamas issued a statement that it would hold Bankman-Fried in custody until “a formal request for extradition is made.”

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In a statement, Bahamian Prime Minister Philip Davis said, “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”