Is Lifetime Imprisonment Awaiting Sam Bankman-Fried of FTX?

 


Original Content- Business Upside

Sam Bankman-Fried, the founder of FTX crypto exchange who led the cryptocurrency exchange getting bankrupt, has been arrested in the Bahamas on Monday after US prosecutors criminally charged him.

How did Sam Bankman-Fried gain fame?

The thirty-year-old entrepreneur led a cryptocurrency boom to make FTX one of the largest crypto exchanges in the world, making a net worth of $26.5 billion as of the last year, as reported by Forbes. He was even being called the “next Warren Buffet.”

The Bahamas-based exchange declared itself bankrupt in November after struggling to raise funds for staving off collapse as traders jumped in to withdraw $6 billion within seventy-two hours from the platform.

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