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The cryptocurrency market is currently buzzing with activity. Following the Fed’s interest rate decision, there has been a new development regarding FTX. According to Reuters, SBF may soon be arrested. The price of Bitcoin, however, has not shown any reaction to the interest rate or SBF news.
FTX Breaking News
The founder of FTX, SBF, may be arrested soon. According to court details reported by Reuters, US prosecutors are requesting the arrest of the FTX founder, who is accused of fraud. Sam, who used customer assets without permission and admitted to it on Twitter Space broadcasts, was especially supported by Democrats.
The cryptocurrency exchanges have faced increasing regulatory pressure due to the collapse of FTX caused by Sam and his associates taking high-risk positions with customer assets. SBF, who transferred the balances of investors who deposited money into the exchange directly to a company called Alameda, was making users believe that they had non-existent cryptocurrencies in their wallets.
Prosecutors will present their evidence to the court until the trial expected in November, striving for SBF to receive the maximum penalty.
