FTX Founder SBF Arrested in Bahamas, May Be Extradited to U.S.

On Monday, the media reported that FTX founder SBF was arrested in the Bahamas at the request of the U.S. government.

The Bahamian government said that SBF was arrested because his financial practices violated U.S. law and also violated Bahamian federal law.

The Bahamian government says the U.S. has filed criminal charges against SBF and may request SBF's extradition.

This comes after SBF was scheduled to appear before the U.S. House of Representatives for a hearing on Tuesday.

In November, FTX, formerly the world's second largest cryptocurrency exchange by trading volume, filed for bankruptcy, involving millions of creditors.