Sam Bankman-Fried, king of cryptocurrencies and founder of Ftx arrested (which lost 25 billion in one day) – Corriere.it

Sam Bankman-Fried, founder and former CEO of bankrupt cryptocurrency exchange FTX was arrested by the Bahamas authorities after US law enforcement filed a complaint against him. The US media report it.

Bahamian Attorney General Ryan Pinder said the United States filed unspecified criminal charges against Bankman-Fried and was likely to seek his extradition. Bankman-Fried, 30, was due to testify before the US House Financial Services Committee tomorrow. The Bahamas and the United States have a common interest in holding accountable all individuals associated with FTX who may have betrayed public trust and broken the law, Bahamian Prime Minister Philip Davis said. Last month, FTX and its affiliates filed for bankruptcy and Bankman-Fried stepped down from his post as chief executive officer.

The former rebel genius, until recently he was 60th in the world on the Forbes list of billionaires. It was estimated that he had assets of 26.5 billion dollars, which then collapsed in one day to 991.5 million. His net worth, that is, dropped 94%, according to the Bloomberg Billionaires Index, the largest one-day decline in the history of the index. It had taken him 5 years to get on the roof. A few weeks to write on Twitter: I did a c … and I should have done better.