FTX Founder Sam Bankman-Fried Appears in Nassau Court for Financial Offences
by Wieke Beenen After FTX’s bankruptcy in the US last month, Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange, was arrested in The Bahamas on Monday. According to the the country’s attorney general, the former boss and chief executive appeared in a magistrates’ court in the Caribbean country’s capital, Nassau on Tuesday. The 30-year-old Bankman-Fried was arrested for “financial offences” against laws in the US and The Bahamas, with allegations that he used billions of dollars of customer funds to prop up FTX’s sister company, a hedge fund called Alameda Research. A company whose balance-sheet shortfall may have speeded up the crypto empire’s downfall in the first place. FTX’s initial…