Former FTX CEO Sam Bankman-Fried arrested in the Bahamas

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The former CEO of the failed cryptocurrency firm FTX has been arrested in the Bahamas, according to a statement Monday by that nation’s government.

The Bahamian attorney general said in a statement released Monday that Sam Bankman-Fried had been detained upon request from the U.S.

“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law,” Prime Minister Philip Davis said in a statement.

The attorney general’s office said it expects to extradite Mr. Bankman-Fried to the U.S. upon a formal request.

“They took down ‘Mini’ in the Bahamas,” crowed Fox News Channel host Jesse Waters, using a short form of his nickname for Mr. Bankman-Fried — “Mini-Madoff.”

FTX filed for bankruptcy on Nov. 11, when the firm ran out of money after the cryptocurrency equivalent of a bank run.

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