💥Sam Bankman-Fried, who was the only person charged in the indictment, was taken into custody by the Bahamian authorities. He was arrested shortly after 6 p.m. at his apartment complex in the Albany resort in the #Bahamas , according to a statement from the Bahamian police.

Sequoia Capital reduces cryptocurrency fund size to $200 million🥱

Over in crypto, # remain in a tight holding pattern without much to note, though a couple of disappointing headline stories did come across our desk over the past 24 hours. As part of the on-going crypto winter, VC-titan Sequoia has pared its cryptocurrency fund from $585mm down to $200mm, while the Department of Justice has decided to drop more charges against SBF as part of the Bahamas-extradition plea. We are just going to end our commentary here for the sake of our emotional sanity!

#SequoiaCapital #crypto #cryptocurrency #Bahamas #SBF

BREAKING: FTX Founder Sam Bankman-Fried Locked Up For Evidence Tampering

In a stunning turn of events, FTX founder Sam Bankman-Fried has been ordered to await trial behind bars after a bail hearing revealed alleged attempts to influence witnesses against him, according to a recent report by the St. Louis Post. 

The decision, made by US District Judge Lewis A. Kaplan, came after prosecutors presented evidence suggesting #Bankman-Fried had engaged in harassment tactics, including disclosing the private writings of a key witness to a journalist.

#FTX Founder Sentenced To Jail

Bankman-Fried, a 31-year-old #cryptocurrency entrepreneur, had been under house arrest at his parent’s residence in Palo Alto, California, since his extradition from the #Bahamas in December.

Facing charges of defrauding #investors and diverting millions of dollars worth of cryptocurrency through his FTX exchange, Bankman-Fried had been operating under strict bail conditions, including limited internet and phone access.

Prosecutors argued that Bankman-Fried violated these conditions by providing The New York Times with private writings belonging to Caroline Ellison, his former girlfriend and the ex-CEO of Alameda Research, FTX’s trading arm. 

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