FTX founder Sam Bankman Fried arrested, bail denied

FTX Founder arrested denied bail

About FTX

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Founder of FTX

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The Bankruptcy

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SBF Arrest

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Allegations against FTX

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Bail Denied

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Jail Term

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What did we learn?

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Also Read:

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We're on You Tube

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FTX Founder arrested denied bail

FTX Founder arrested denied bail

About FTX

About FTX

FTX was one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.

Founder of FTX

Founder of FTX

Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.

The Bankruptcy

The Bankruptcy

Acc. to a statement released by Sam, FTX requires over $9 billion to overcome bankruptcy. It has filed for bankruptcy.

SBF Arrest

SBF Arrest

Sam was arrested on Dec12 in Bahamas by the local authority on the request of the United States.

Allegations against FTX

Allegations against FTX

FTX stole billions of worth of user funds and is charged with financial misconduct. Sam also lobbied against other players in the industry to promote FTX.

Bail Denied

Bail Denied

A Bahamian judge denied bail after US prosecutors issued arrest warrant against Sam citing his risk to flight "too risky".

Jail Term

Jail Term

If found guilty, Sam may face upto 115 years of prison sentence.

What did we learn?

What did we learn?

Centralized exchanges are no longer safe for storing cryptocurrencies. With many freezing withdrawals, it's better to store cryptos in a hardware wallet.

Also Read:

Also Read:

1..Chinese crypto scam

1..Chinese crypto scam

2..FTX defrauded users

2..FTX defrauded users

3..New EU law favour NFT

3..New EU law favour NFT

We're on You Tube

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