Sam Bankman-Fried (SBF), the disgraced founder of the cryptocurrency exchange FTX, is still in for more bad times.
Sam Bankman-Fried will face charges from the United States Securities and Exchange Commission (SEC), which will be distinct from the ones that led to his most recent detention in The Bahamas, on December 12.
The SEC tweeted a remark from Gurbir Grewal, the director of its division of enforcement, indicating that the organization has “authorized separate charges relating to his violations of securities laws.”
Grewal stated that the Southern District of New York would get the charges “tomorrow,” on December 14. (SDNY).
Only a few hours have passed since Sam Bankman-Fried was detained in The Bahamas on December 12 before the SEC made its announcement.
Attorney General of the Bahamas, Senator Ryan Pinder said in a statement that the arrest came as a result of receiving official notice from the US that it has charged SBF with crimes and will likely ask for his extradition.
Although specifics about the allegations have not been confirmed, it is believed that they relate to money laundering, conspiracy to commit money laundering, and wire and securities fraud.
Grewal praised the “law enforcement partners” of the SEC in his most recent statement for securing Bankman-arrest Fried’s on federal criminal charges.
News of SBF’s Arrest Floods Crypto Twitter
Crypto Many people were shocked that Sam Bankman-Fried had been arrested in the Bahamas so swiftly, and Twitter has gone crazy over the surprising news.
The disgraced FTX founder was detained by the Royal Bahamas Police on December 12 after they learned that the US government had charged him with a crime.
Within a few hours, influencers, lawmakers, and crypto executives were all logged into their Twitter accounts to post reactions to the former CEO’s arrest.
The arrest of Bankman-Fried was a step toward “justice being served,” New York Democratic Representative Alexandria Ocasio-Cortez told her 13.4 million Twitter followers. However, she added that the arrest would delay Bankman-testimony Fried’s before the House Financial Services Committee, which was scheduled for December 13.
In a tweet, U.S. Senator Cynthia Lummis expressed her satisfaction with the prosecution’s choice to charge Bankman-Fried with the “good, old-fashioned fraud” that she believed he had committed.
Elizabeth Warren, a fellow senator from the United States and a crypto skeptic, concurred, saying in a tweet to her 7 million followers on December 13 that the U.S. Department of Justice needs to hold more criminal business CEOs accountable.
Others seized the chance to make fun of everything. Using ChatGPT, Benjamin Cowen, the CEO and founder of the crypto-analysis channel Into The Cryptoverse, wrote poetry about Bankman-Fried’s most recent situation.
Memes are currently trending on Twitter in the meantime.
Since FTX’s shocking collapse in November, a lot has been said about Bankman-Fried’s Twitter messages and media appearances.
Trung Phan, the co-host of Not Investment Advice, stated to his 538,000 Twitter followers on December 13 that SBF’s erratic public behavior will make it more difficult for his defense lawyer to represent him. Others think that after being arrested, SBF will likely point the finger at coworkers and people connected to the FTX scandal, including those who received his sizable political donations.
When asked about the potential during what is probably his final Twitter Spaces interview, with Unusual Whales on December 12, SBF responded, “I don’t think I’ll be arrested.”
According to a Dec. 12 press release by the Bahamas’ Office of the Attorney General, the Royal Bahamas Police Force made the arrest after receiving official information from the US that it has charged Bankman-Fried.