Sam Bankman-Fried, 30, was arrested in the Bahamas on Monday. This was announced by the Attorney General responsible. Bankman-Fried is the founder of the bankrupt crypto exchange FTX.
The move was a surprise. According to prosecutors, the US was arrested for filing a criminal case against the 30-year-old. It is possible that they want a refund.
denies fraud allegations
Bankman-Fried was due to testify before the US Congress on Tuesday. Instead, he opened up from his adopted country, the Bahamas.
Bakman-Fried founded and crashed the crypto exchange FTX. However, he denies any malicious intent. “I’ve never tried to scam anyone.” This is what the 30-year-old US entrepreneur said at a conference in New York a few days ago.
He was also connected from the Bahamas at that time. “I saw it as a thriving business and was shocked by what happened this month,” he explained.
“We totally failed”
In retrospect, he is ashamed. “We completely failed,” said Bankman-Fried, referring to the crypto company’s billions of dollars in risks.
FTX, one of the largest trading venues for cryptocurrencies, collapsed about three weeks ago after a massive outflow of funds in a matter of days. Billions of client funds could not be paid.
Bankman-Fried, often referred to as simply SBF in the crypto industry, announced his resignation on November 11 and filed for bankruptcy for the group in the US state of Delaware. (EU)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
