Crypto & NFT Prices Rally As Sam Bankman-Fried Taken Into Custody – Business 2 Community

The United States and Exchange Commission has filed legal charges against Sam Bankman-Fried, the former chief executive officer of the fallen crypto exchange FTX, for allegedly orchestrating a scheme to defraud investors.

Disgraced FTX CEO Sam Bankman-Fried Arrested

On December 13, reports confirmed that the authorities in Bahamas have detained the disgraced former FTX boss following a warrant request from the United States government. Sam Bankman-Fried awaits charges related to defrauding investors.

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

— US Attorney SDNY (@SDNYnews) December 12, 2022

Disgraced Sam Bankman-Fried came into the spotlight a few weeks ago after the collapse of the FTX exchange that left many non-fungible token shedding more than 30% of their value. The FTX impulsion also pushed many NFT firms to lay off some staff, including

Crypto & NFT Market Rallies After Arrest Of Sam Bankman-Fried

Earlier today the Bitcoin price spiked as high as $18,000 helped by a positive CPI print as inflation figures came in lower than forecasted at 7.1%.

The non-fungible token market has rallied sharply after the arrest of fugitive Sam Bankman-Fried this morning in the Bahamas. Valhalla, an NFT collection from Floki’s NFT metaverse game Valhalla, has led the rally surging by more than 43% on its floor price to $1,381 in the past 24 hours.

Mutant Ape Yacht Club, an NFT collection from Bored Ape NFT creator Yuga Labs, has followed the rally closely, surging by more than 8 % on its market capitalization and floor prices to 364 million and $18,732, respectively.

Bored Ape Yacht Club, the flagship NFT collection for Yuga Labs, has als joined the rally surging by more than 6% on its market capitalization and floor price to $909 million and $90,916, respectively.

Last but not least, CryptoPunks, an NFT collection featuring a fixed set of 10,000 Punks from Larva Labs, has surged by more than 6% on its market and floor prices in the wake of the recent San Bankman-Fried arrest to $864 million and $86,347, respectively.

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