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Sam Bankman-Fried arrested in The Bahamas

Bahamas Sam Bankman-Fried FTX

Sam Bankman-Fried, founder and former CEO of bankrupt crypto exchange FTX, was arrested and taken into custody on Monday by police in the Bahamas.

Why it matters: This appears to set up an extradition of Bankman-Fried to the U.S., as the Bahamian attorney general's office says it received notice of a U.S. criminal complaint and "likely" extradition request.

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