New York – Sam Bankman Fried, the founder of the recently collapsed cryptocurrency exchange FTX, has been arrested. Sam was arrested by authorities in the Bahamas at the request of the US government. Cryptocurrency Exchange.sam, a platform for buying and selling cryptocurrencies, was charged by the United States with criminal charges. Sam’s company filed a petition on November 11. A request can be made to extradite Sam from the Bahamas to the United States for trial.
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After the company broke up, Sam stayed in the Bahamas. Sam was arrested when he was scheduled to testify before the US House Financial Services Committee regarding the collapse of FTX. Crypto is a ‘currency’ created in digital code. They are acquired through digital mining and exchange called mining. Using blockchain technology. Digital currency is not backed by any country’s central bank like regular currency.
