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To: Goose94 who wrote (140041)12/13/2022 9:24:10 AM
From: Goose94Read Replies (1) | Respond to of 203414
 
Bitcoin: Sam Bankman-Fried arrested

SEC Alleges Fraud

There’s a new chapter in the spectacular implosion of crypto exchange FTX this morning, after Sam Bankman-Fried was arrested in the Bahamas over his role in the collapse. The U.S. Securities and Exchange Commission alleges SBF – until very recently seen as a saviour of the entire crypto ecosystem – defrauded investors to the tune of US$1.8 billion, in what the SEC describes as a “years-long fraud” that concealed how funds flowed between it and affiliated party Alameda Research. (As always, the standard disclaimer – these are allegations that have not yet been tested before the courts.) Back to SBF – he’s (unusually) admitted in media interviews in the wake of FTX’s collapse that there were managerial missteps at the firm, but insists he never intended to defraud investors.

BNN.ca