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Just In: FTX Founder Sam Bankman-Fried Arrested, Set for Extradition to US

Sam Bankman-Fried, the founder and former CEO of the imploded crypto exchange FTX, has been arrested by Bahamas authorities and set to be extradited to the United States.

According to a letter from the Office of the Attorney General on the 12th of December, Bankman-Fried, who is also the founder of Alameda Research, was apprehended by the Royal Bahamas Police Force following formal notification from the United States that it has filed criminal charges against him.

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Going by the statement of Prime Minister Philip Davis, the Bahamas and the United States have “a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.”

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

US Attorney SDNY said in a tweet moments ago, “USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.”

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Just In: FTX Founder Sam Bankman-Fried Arrested in Bahamas, Set to Be Extradited to the US
Letter from the Bahamas Attorney General

On the 10th of December, Bloomberg reported that prosecutors from New York, FBI agents, and other regulators met with FTX’s lawyers to discuss the documentation investigators want to obtain. It’s also said that the Justice Department was carefully investigating whether FTX improperly moved hundreds of millions around the same time as the firm declared bankruptcy.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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