FTX founder Sam Bankman-Fried arrested in Bahamas

The Bahamas police have arrested Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, the country's attorney general has said.

He will appear in a magistrates court in The Bahamas on Tuesday, authorities in the Caribbean country said.

Police said Mr Bankman-Fried was arrested for "Financial Offences" against laws in the US and The Bahamas.

Last month FTX filed for bankruptcy in the US, leaving many users unable to withdraw their funds.

It is unclear how much people who have funds in the exchange will get back at the end of bankruptcy proceedings, though many experts have warned it may be a small fraction of what they had deposited. read more