Crypto currency boss arrested in Bahamas after $3bn collapse of exchange platform
Evening Standard|December 13, 2022
A CRYPTO currency tycoon has been arrested in the Bahamas following the dramatic collapse of his exchange platform FTX.
Tristan Kirk Courts Correspondent
Crypto currency boss arrested in Bahamas after $3bn collapse of exchange platform

Sam Bankman-Fried, 30, is accused of financial offences in a New York indictment, police said, and is now wanted for extradition back to the United States to face criminal charges.

Bankman-Fried was due to appear at a magistrates' court in the Bahamas capital Nassau later today. The former Wall Street trader was seen as a star of the crypto currency sector as his FTX platform soared, attracting celebrity endorsements from the likes of Gisele Bündchen and Shaquille O'Neal, and his personal wealth was put at $15 billion. At its peak, the platform founded in 2019 - was trading around $10 billion in crypto currencies every day.

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