Sam Bankman-Fried has been arrested by Bahamian authorities
The arrest occurred a day before Sam Bankman-Fried was expected to appear before the United States Congress.
Extradition of SBF to the United States is to be expected.
SBF has been arrested by Bahamian authorities at the request of the U.S. Government
Sam Bankman-Fried was put under arrest by the Bahamian police force on December 12. The U.S. Attorney’s Office for the Southern District of New York tweeted that Bahamian authorities arrested SBF after being told to by the U.S. Government.
It's rumoured that Sam Bankman-Fried will be charged with securities fraud, wire fraud, money laundering and conspiracy to commit securities and wire fraud.
Sam Bankman-Fried was due to appear before U.S. Congress on December 12 to testify to the House Committee on Financial Services in order to provide more information about the FTX-Alameda collapse.
Crypto traders and former FTX users celebrated the news of Sam Bankman-Fried’s arrest. For many, it means that individuals who cheat crypto clients or purposefully deceive users of centralised platforms can face swift justice in the crypto sector.
There have been calls for the arrest of Terra Luna's Do Kwon, who has been on the run after being served with an arrest warrant, according to South Korean officials.
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