Sam Bankman-Fried was just arrested - Bonus Episode 314 - by cryptohunt.it

Sam Bankman-Fried was just arrested - Welcome to a special bonus extra Episode

We usually just do one episode per day of the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. But today is different - we need to cover the most recent events right now.

Remember our recent podcast about Sam Bankman-Fried, and how we already assumed that his interviews were not the last thing we'd hear of him?

Well, suddenly it all happened very quickly: Monday morning, the cuffs clicked on his wrists and he was arrested in the Bahamas.

The warrant for his arrest is coming from the US government though, and they filed for extradition back home as well. That means it's all or nothing for SBF, as he is often called. But what exactly is he accused of?

The legal papers, released yesterday, are full of scathing allegations. He is indicted on eight different charges, but they basically all say the same: He lied wherever he could.

Using falsified information, he schemed over $2bn Dollars from investors, stole customer funds he said he would never touch, and oversaw insider trading of his second firm Alameda research on FTX. He is even accused of braking election laws by funneling his money to politicians in a way that it evades legal donation maximums.

And if you thought, like most of us, that SBF went down the deep end when crypto collapsed late last year in an effort to save FTX or Alameda research - well, you'd be wrong it seems. The US government's charges are going all the way back to 2019.

Shocking? We'll let you be the judge.

And tomorrow, we'll talk about what this all means for crypto in general... with an interesting take you'll hear here first. Until then - stay safe!

This podcast is produced by Cryptohunt.it, the easiest place to learn crypto. Copywriting is done by Arndt Voges, Social Media is done by Brett Holleman, design is done by Carmen Rincon, and my name is Christian Byza, Co-Founder of Cryptohunt and I am your host of this daily show.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.