@ms16969 18 December 2022

The Bahamas police have arrested FTX founder Sam Bankman-Freed at the request of the US government. The charges against the former head of FTX and Alameda may include wire fraud, securities fraud, money laundering and related conspiracy charges. It also became known that regulators in the Bahamas will take ownership of FTX worth $256 million. Sam asked to be released on bail from a Bahamian prison, but he was refused - he will remain there until at least February 8, 2023. Sam's lawyer offered bail for the client in the amount of $250,000. The former head of FTX and Alameda were taken out of the court in handcuffs. Before being extradited to the United States, the founder of FTX will be in Fox Hill Prison - the media write about numerous complaints about the conditions of detention in the correctional facility. It is worth noting that Sam is accused of eight criminal offenses, for which a businessman can face up to 165 years in prison. Forbes reports that Sam can pull CZ and Binance with him. They noted that they came into possession of information that Sam was going to provide to the US authorities at the hearings: Alameda's assets plummeted after November 6th when CZ tweeted about his intention to sell FTT; - FTX crash caused by CZ tweet; - On November 8, Sam and CZ agreed on a deal to buy FTX, after which FTX received offers, but could not act due to an agreement with Binance; - Binance never intended to buy FTX; - A few months ago, FTX was considered one of the biggest competitors of Binance, and after their collapse, Binance has 70% of the market, although previously the figure was 50%