In an interview on Monday, Sam Bankman-Fried declared, "I don't think I will be arrested." Hours later, the former CEO of the collapsed crypto exchange FTX was proved wrong. Authorities in the Bahamas took the 30-year-old into custody at the request of US officials. The details:
- Timing: It's a little odd. SBF had been scheduled to testify before Congress on Tuesday, and prosecutors could have had that sworn testimony had they waited a day to arrest him, notes Axios. Rep. Maxine Waters, chair of the House Committee on Financial Services, said in a statement she was surprised and "disappointed" to learn of the arrest, reports Reuters. SBF's successor at FTX, John Ray, will still testify.
- Opening line: Reuters obtained SBF's prepared statement to the panel, and he planned to open with the line, "I would like to start by formally stating, under oath: I f----- up." He also planned to say that he was pressured by lawyers and Ray to step down, and when he changed his mind within minutes after an offer of billions in funding emerged, he was told it was too late.