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Sam Bankman-Fried Was Finally Arrested In The Bahamas Last Night

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CNBC- FTX founder Sam Bankman-Fried was arrested by Bahamian authorities this evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

Bankman-Fried was expected to testify before the House Financial Services Committee on Tuesday. His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

Damian Williams, the U.S. Attorney for the Southern District of New York, said on Twitter that the federal government anticipated moving to “unseal the indictment in the morning.” Bahamas Attorney General Ryan Pinder said that the United States was “likely to request his extradition.”

Welp, it looks like SBF should have headed to South America when he had the chance. Diet Bernie Madoff was arrested in the Bahamas this afternoon, and I think I speak for us all when I say "I really, really hope you drop the soap."

According to the Bahama's AG the US has filed "unspecified" criminal charges against Sam. Spoiler: it probably has to do with the billions of FTX users' dollars that he stole/pissed away/"traded."

The AG, also said the US is "likely to request his extradition." Translation?

FTX is coming home (BONUS: It doesn't appear that we'll need to give up any international criminals/arms dealers)…

Interestingly, earlier yesterday during (yet another) Twitter Spaces the biggest dipshit on Earth actually mentioned that he wasn't afraid of being arrested if he came back to the US. 

SBF had promised to testify in front of the House Financial Services Committee via video conference tomorrow, but it's unclear if prisons in the Bahamas are willing to offer anything except the free 40-minute version of Zoom.

More to come, but for now…

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Every day at 5 PM the Barstool Finance crew hops on to discuss the day's biggest finance and markets stories in 15-minutes or less. Today we discussed SBF vs. Congress and Elon getting booed at a Chappelle show…