Sam Bankman-Fried Was Just Arrested Over FTX Collapse

Moments ago, authorities in The Bahamas announced that Sam Bankman-Fried, the Founder of FTX, was arrested. U.S. authorities have filed criminal charges against Bankman-Fried, and authorities plan to extradite him once U.S. officials request it.

Governing officials in the Bahamas issued a press release noting these most recent developments.

“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the statement, attributed to Attorney General Ryan Pinder, said. “At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.”

This is a breaking story and will be updated.