Prosecutors Throw Everything They’ve got at SBF, Hint There’s More to Come

You’ve probably already heard: they threw the book at him.

In a flurry of blame-laying this week, the SEC, CFTC, and the US Attorney’s Office for the Southern District of New York have charged Sam Bankman-Fried with a bevy of crimes.

The former FTX CEO had been laying low in the Bahamas, the headquarters of his bankrupt exchange. It didn’t matter. Bahamian authorities arrested SBF on behalf of their peers in the US, citing an expected extradition request.

Most people cheered the news. But some didn’t — SBF’s arrest denied US lawmakers the opportunity to grill him at a congressional hearing on Tuesday. As such, the hearing was left with one witness: John Ray, the corporate turnaround expert to whom SBF had reluctantly handed control of FTX and affiliated companies.

As the man charged with cleaning up Bankman-Fried’s mess, Ray had a couple interesting things to share yesterday. Let’s dive in. Don’t forget to like this video and subscribe to The Defiant for all your DeFi news.