KEY POINTS
- The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney for the Southern District of New York shared a sealed indictment with the Bahamian government.
- His arrest is the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month.
- Sam Bankman-Fried is expected to be extradited to the United States.
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