Ex-FTX CEO Sam Bankman-Fried arrested in Bahamas, US to unveil charges

Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the cryptocurrency exchange to declare bankruptcy last month, was arrested on Monday in The Bahamas after being criminally charged by US prosecutors.

It marks a stunning fall from grace for the 30-year-old entrepreneur who rode a cryptocurrency boom to create one of the world’s largest cryptocurrency exchanges and a net worth that Forbes pegged a year ago at $26.5 billion.