trade now
BlockchainCryptocurrencyCryptocurrency RegulationNews

Sam Bankman-Fried Has Been Arrested Over FTX Crash. True?

SBF Detained?

Sam Bankman-Fried (SBF) was once considered the genius of the cryptocurrency world. Recently, he has been making unpleasant headlines. His multi-million-dollar empire FTX collapsed on November 9th.

After reports of insufficient liquidity surfaced, many investors have been left in the middle of a battle at the third-largest cryptocurrency exchange. As the fifth day of FTX’s decline approaches, the crypto community continues to be inundated with rumors and conspiracies.

SBF was desperate to raise $8 billion to keep his cryptocurrency business afloat. But, if the reports are correct, an arrest will stand in the way. Lucas Nuzzi, Director of R&D at CoinMetrics, says the current sell-off is a direct result of the actions of FTX and Sam Bankman-Fried.

Alameda Research, another subsidiary of SBF, received a substantial bailout from FTX. Unfortunately, this bailout likely took a toll on FTX’s balance sheet to the point that it went bankrupt.

After confirming that SBF was being held at the Bahamas airfield, FTX exchange employees were rumored to be trying to sell their shares of the company.

📰  Elon Musk Vision for Twitter 2.0 Propels Dogecoin Price

PAULY.SOL, the creator of the Not Larva Labs non-fungible token (NFT) project, was among the first to spread rumors about SBF’s arrest.

The NFT founder retweeted a map from Flightradar24 showing a private plane en route from Nassau, the capital of the Bahamas (FTX’s headquarters), to Miami, which was grounded for about 40 minutes.

Respondents to the tweet raised the possibility that the private plane could transport FTX’s CEO. Some even posted manipulated SBF footage that looked like police arrests. Nevertheless, this footage wasn’t enough proof that law enforcement agents arrested SBF.

FTX Employees Jump Ship 

While the CEO is abroad, some stock market officials are already attempting to liquidate the company’s assets, according to multiple reports. Such assets include Embed, a stock clearing platform, and Miami’s FTX Arena naming rights.

Additionally, a social media post claimed that many FTX employees invested their savings in the company because they trusted SBF. In addition, some reports claimed that SBF offered exchange employees a 50% capital rebate last spring.

📰  BitCoke Review – Is BitCoke Scam or Legit?

FTX’s assets have been frozen, according to an official statement from the Securities Commission of The Bahamas (SCB). SCB claims that the freeze will protect the exchange’s assets in the event of a bankruptcy declaration. produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  US Makes $3.36 Billion Worth of Crypto Seizure as Criminal Pleads Guilty

📰  FirstCapital1 Review - Is FirstCapital1 Scam or Legit?

Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content