Global cryptocurrency media has revealed that the founder of the FTX exchange, Sam Bankman Fried, has been arrested with the assistance of both the US and Bahamas authorities.
Authorities arrested Sam, the founder of the cryptocurrency exchange, according to reports from the Bahamas Police, on Dec. 12 to investigate charges against him relating to the misappropriation of customer funds.
Sam’s arrest came in conjunction with the receipt of official notification by the US, whereby criminal charges have been filed against the founder of the crypto exchange which is set to be handed over to the responsible authorities.
The founder of the FTX exchange faces his inevitable fate
In the same context, these developments sparked a conversation in the cryptocurrency community via Twitter, after the US authorities confirmed this, and the US Attorney General for the Southern District of New York State, Damian Williams, tweeted on December thirteenth that Sam was detained according to the state-sealed arrest warrant.
The authorities are scheduled to disclose Sam’s indictment, within the next few hours, to list more reasons for his arrest.
On the other hand, according to BeInCrypto, the US House of Representatives, led by Committee Chairman Maxine Water, has scheduled an investigation session for the bankrupt exchange on December 13.
The FTX exchange is crashing amidst the crypto winter
Among the things that are expected and expected by the crypto sector after Sam’s arrest, John Ray, the current CEO of the bankrupt stock exchange, will testify before the trial authorities, including what he said against Sam that he was the reason for the failure of the stock exchange, and its fall in addition to Lack of financial data that contribute to the management’s internal controls and prevent fraud.
Ray added, in a prior interview, that the collapse of the stock exchange resulted from the desire of a small group to control the reins of management, and this group was not experienced, which led them to fail to organize or deal with the company’s systems and controls, which are responsible for preserving customers’ funds and encrypted assets.
Sam’s amazing reaction to prison
It is surprising that Sam Bankman is very calm about his imprisonment, and this appeared in the press interviews that were published on the Twitter platform and in the context of his response to his fate towards the charges he faces, such as carrying out fraudulent operations in one of the rooms of the tweet site that discussed the crisis during the recent period.
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