“King of crypto” arrested in Nassau for financial offences

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, is scheduled to appear Tuesday in a magistrates’ court in Nassau, the Bahamas, a month after FTX filed for bankruptcy in the US. Many users found they were unable to withdraw funds. FTX, which allowed customers to trade normal money for cryptocurrencies like Bitcoin, is said to owe its largest creditors almost $3.1bn.

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