The feds dropped the hammer on FTX founder Sam Bankman-Fried, arresting him in the Bahamas on Monday night as part of an eight-count indictment that includes wire fraud, securities fraud, and money laundering. Then, more hammer-strokes fell. The Securities and Exchange Commission (SEC), which regulates financial markets, filed civil charges alleging he defrauded his investors and his customers. The Commodity Futures Trading Commission (CFTC), which Bankman-Fried (nicknamed “SBF”) had once lobbied to regulate FTX and the crypto industry, followed suit with allegations of its own.
