Sam Bankman-Fried, FTX’s former CEO whose net worth plunged from billions of dollars to zero, was arrested in the Bahamas on Monday and charged with securities fraud in the U.S. on Tuesday.
Sam Bankman-Fried, FTX’s former CEO, was arrested in the Bahamas after the U.S. Attorney for the Southern District of New York filed a sealed indictment.
Here’s a timeline of how Bankman-Fried went from being CEO of the cryptocurrency exchange company to being in custody. Bankman-Fried attends Massachusetts Institute of Technology, majoring in physics and minoring in math.The then-27-year-old starts FTX. His wealth reached $26 billion at one point, according to reports.Bankman-Fried and other FTX executives donate tens of millions of dollars to political campaigns. Bankman-Fried is also one of President Joe Biden’s largest single donors.
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Live updates: FTX founder Sam Bankman-Fried charged with fraud, money laundering'This is really old-fashioned embezzlement,' new FTX CEO John J. Ray says in a House hearing on the collapse of the crypto firm. 'This is just taking money from customers and using it for your own purpose. Not sophisticated at all.'
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Former FTX CEO Sam Bankman-Fried was arrested and charged with fraudThe former CEO of the popular crypto exchange, FTX, was arrested in The Bahamas and faces extradition to the US.
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FTX’s Sam Bankman-Fried Suggests He’ll Fight Extradition From the BahamasFTX’s disgraced CEO Sam Bankman-Fried signaled to a Bahamian chief magistrate that he has not waived his right to an extradition hearing, suggesting the former billionaire would fight extradition to the U.S.
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Podcast: The Block in Crisis After CEO Loaned Millions By Sam Bankman-Fried | CoinMarketCapAlso coming up — why one U.S. politician is suggesting that cryptocurrencies should be banned altogether.
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