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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Author: Dominic Kimani
Dominic is a Nairobi, Kenya based crypto news writer enthusiastic about NFTs, DeFi, and blockchain tech in general, with four years experience in the field, alongside his own personal investing journey. Dominic also produces his own NFT and crypto newsletter, taking the initiative to set up his own mailing list with …