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Sam Bankman-Fried, founder and ex-CEO of now-defunct cryptocurrency exchange FTX and major Democratic Party donor, has been arrested in the Bahamas following the U.S.’ filing of criminal charges, according to a statement by the office of the attorney general of the Bahamas.
Bahamian authorities had not yet received a formal request to extradite Bankman-Fried, but promised to “promptly” fulfill any requests made by U.S. authorities, in accordance with its own laws and treaties with the U.S., according to the statement. The exact nature of the charges against Bankman-Fried was not made clear at time of writing, both Bankman-Fried and FTX have been under investigation by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice for several months, amid allegations that FTX loaned billions of dollars of clients’ assets to its sister firm, the trading house Alameda Research.
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