What You NEED TO KNOW About FTX Founder Sam Bankman-Fried Arrest

What You NEED TO KNOW About FTX Founder Sam Bankman-Fried Arrest. Following the failure of his cryptocurrency exchange, FTX, and his detention in the Bahamas on Tuesday, Sam Bankman-Fried was charged with numerous fraud-related offenses. As well as Violation of Campaign Finance laws. #ftx #sambankmanfried #sbf #cryptocurrency #arrested #fraud #sec #alameda #election

SBF, a well-known Democratic megadonor, has asserted that he made donations that aren't included in FEC filings. He claimed to have given just as much to Republicans as he had to Democrats in a video interview with Tiffany Fong, but because the GOP donations were "dark-money" contributions, it was challenging to confirm his statement.

On Tuesday, prosecutors for the Southern District of New York of the U.S. Department of Justice unsealed a criminal indictment accusing Mr. Bankman-Fried of deceiving investors from the company's inception. Eight accusations against Mr. Bankman-Fried include conspiracy to defraud the United States, wire fraud against clients and lenders, and breaking campaign funding regulations.

In the wake of FTX’s collapse, politicians have been saying they will donate or have donated the money that they received from SBF to charities or other groups, or they’re giving it back.

The House Committee on Financial Services is holding a hearing about FTX’s collapse. Mr. Bankman-Fried was slated to testify, but the hearing is going ahead without him, featuring testimony from John J. Ray III, who took over FTX after its bankruptcy.

Furthermore this video pays tribute to Coach Mike Leach who passed away this morning. He was a true American Treasure and will be missed. RIP Coach Leach. #mikeleach #ripmikeleach #mississippistate

Audio credit to @TiffanyFong . Find full interview here: https://www.youtube.com/watch?v=6DezodR9hNI&t=858s

Watch more at: https://www.youtube.com/channel/UC-rDUlcIAqI9qFaTPEFqTFQ