FTX founder Sam Bankman-Fried arrested in Bahamas to face criminal charges in the US: CNBC
FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on June 4, 2021. - Matias J. Ocner/Miami Herald/TNS

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.