Ah the Tuesday news day time to Leisurely dip our toes into headlines And oh oh I gotta get this out quick Before anything else happens that's Right I'm your host Andrew this is Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines go Go go okay deep breath first up FTX Founder Sam bankman freed has been Arrested in the Bahamas the US has filed Criminal charges against the 30 year old And reports now suggest they include Wire fraud Securities fraud and money Laundering SPF is now being held in Custody and the Bahamas is anticipating That an extradition request will be Submitted meanwhile the SEC has Confirmed that it has authorized charges Of its own SBF remains in custody and Spent the night in a jail cell he is due To appear in a Bahamian Court later Today and reports from the New York Times suggest he was cooperative during His arrest although the Bahamas and the US do have an extradition treaty it Could be weeks before SPF has flown to America and potentially even longer than That and if you are looking forward to Sbf's testimony in front of the house Financial Services committee later today Well you've probably figured out by now That's not happening anymore committee Chairwoman representative Maxine Waters Has said that she was surprised to hear
He has been taken into custody in a Statement late last night she added the American public deserves to hear Directly from Mr bankman freed about the Actions that have harmed over 1 million People and wiped out the hard-earned Life savings of so many the public has Been waiting eagerly to get these Answers under oath before Congress and The timing of this arrest denies the Public this opportunity nonetheless she Said it was about time that the process To bring SBF to justice has begun though If only about time was uh I don't know About 24 hours later and finally SBF Will not be in attendance but the Committee's hearing is still going ahead And we'll hear from ftx's new CEO John Ray III he will reveal ftx's Unacceptable management practices during Spf's time running the company said Unacceptable management practices Include Executives being able to access Systems storing customer assets private Keys storing hundreds of millions of Dollars worth of crypto being stored Without any encryption and elevator Research being allowed to borrow funds Directly from FTX without any effective Limits Rey will also highlight us Spending binge that saw five billion Dollars spent on a plethora of Businesses and Investments many of which May be worth only a fraction of what was
Paid for them the answers he gives to U.S politicians later could prove Illuminating and speaking of Illuminating Brighton hour day by liking This video subscribing to our YouTube Channel and clicking on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live on yesterday's Video Mr UC or M Russi I'm going with Mr UC said I was previously shouted out for Naming the SPF Amazon show Samwell the Bankman's fraud now that he's been Officially arrested so I propose an Addendum scam well bankman's fraud a Jew Andrew Well you know he's only been arrested so Let's name him alleged scamwell Banker On fraud ah much better if you have any Wonderful comments be sure to leave them Below because I read them I'll shout out My favorites and I'll digest harsh Criticisms by rocking back and forth in A corner somewhere crying to myself Questions about our headlines or crypto In general hey just ask Alex in that Description below Alex is a great Resource for all things wid3 and that Metaverse doohickey and that about does It for today again I've been your host Andrew these have been your headlines That hopefully won't be out of date in Like five minutes and we'll see all of Your beautiful faces tomorrow
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