3 crazy details from the SEC filing against Sam Bankman-Fried

FTX founder Sam Bankman-Fried
(Image credit: Ting Shen/Bloomberg via Getty Images)

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, was arrested in the Bahamas Monday after being charged with fraud by the U.S. Securities and Exchange Commission (SEC).

In the SEC's official court filing, the agency documented a list of missteps that eventually led to the collapse of the company, and some of the details are truly unbelievable.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Justin Klawans, The Week US

 Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other Hollywood news. Justin has also freelanced for outlets including Collider and United Press International.