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Sam Bankman-Fried May Face U.S. Questioning Over FTX Implosion

The disgraced executive was able to skirt U.S. oversight for years by basing his company in the Bahamas.

The founder and ousted CEO of crumbling cryptocurrency exchange FTX may be sent to the U.S. for questioning, according to Bloomberg. Sam Bankman-Fried, who is currently located in the Bahamas, faces probes in both countries for his role in the demise of the company and the misappropriation of some $10 billion in client funds to another one of his companies, Alameda Research. An additional sum between $1 and $2 billion in customer assets also reportedly disappeared. The disgraced executive is allegedly cooperating with authorities, and had an initial interview with Bahamian police on Saturday. Already operating in a notoriously unregulated field, Bankman-Fried was able to keep his books closed and skirt American oversight for years by keeping his business located on the island nation. FTX filed for Chapter 11 bankruptcy on Friday, and has since appointed a new CEO in a desperate bid to save the exchange from total free-fall.