CNBC is reporting that Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, has been arrested in the Bahamas to face criminal charges filed by American prosecutors.
Bahamas Attorney General Ryan Pinder announced Bankman-Fried's arrest on Monday night and said that the United States was likely to seek his extradition.
Pinder did not, however, reveal what charges Bankman-Fried is facing.
The one-time cryptocurrency titan's arrest comes just weeks after his exchange collapsed in spectacular fashion, resulting in billions of dollars lost by investors.