Nuclear fusion breakthrough - Inflation slows - FTX founder arrested

Source: Bloomberg

1. Summary
   Sam Bankman-Fried, the founder of bankrupt cryptocurrency firm FTX, was arrested in the Bahamas on Monday. He was charged with eight counts of financial crimes by the U.S. government, including wire fraud, conspiracy, and campaign finance violations. Bankman-Fried donated tens of millions to political campaigns in 2022.
   
   Federal prosecutors allege Bankman-Fried used the assets of customers to pay off the debts of FTX's hedge fund. The charges allege the illegal activity started the same year FTX was founded, in 2019. The Securities and Exchange Commission also separately filed charges against him on Tuesday, similarly accusing him of improperly using customer funds.
   
   The U.S. is expected to request the Bahamas extradite Bankman-Fried to the U.S. Officials in the Bahamas are likely to comply. Money laundering expert Michael Parker told CBS News that U.S. prosecutors may have wanted to "strike while the iron is hot," in case Bankman-Fried moved to a jurisdiction less likely to comply with an extradition request.

   Highly-rated - last 48 hrs
   FTX's Sam Bankman-Fried: What to know about his arrest and the charges he faces.
   CBS News (Moderate Left) • Factual Grade 76% • 4 min read
   

1. Different political viewpoint
   "Old-fashioned embezzlement": Bankman-Fried charged with fraud, making illegal campaign donations.
   Hot Air (Right) • Factual Grade 72% • 4 min read

1. Selected long-read
   What the FTX implosion means for crypto regulation.
   Vox (Left) • Factual Grade 80% • 6 min read

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