Sam Bankman-Fried’s sudden turn from white knight to detainee

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By Hannah Lang (Reuters) – The sudden fall from grace and arrest of FTX’s former CEO Sam Bankman-Fried has stunned investors and crypto enthusiasts who once hailed the 30-year-old American as the savior of the industry. Bankman-Fried was arrested by Bahamian authorities at the request of the U.S. government, U.S. Attorney Damian Williams said in a statement. The Bahamian attorney general said in a separate statement the United States is likely to request his extradition. Multiple federal agencies are also investigating how the exchange handled customer funds while he was in charge. Bankman-Fri…

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