SBF is suspected of transferring billions in customer funds to his crypto hedge fund Alameda Research and manipulating the market|MIT Bitcoin Club|CC BY 3.0
Former CEO of the collapsed and bankrupt crypto exchange FTX, Sam Bankman-Fried (SBF) was arrested in the Bahamas on Monday and is in police custody.
Just hours earlier in a Twitter Spaces interview, he said, “I don’t think I will be arrested.” SBF was also scheduled to testify remotely in the House Financial Services Committee hearing on FTX’s collapse.
Why?
Once hailed as the crypto industry’s golden boy, SBF was arrested based on a sealed indictment filed by the US prosecutors. He is suspected of transferring billions in customer funds to his crypto hedge fund Alameda Research and manipulating the market.
The indictment documents are expected to be unsealed this morning.