Just 24 hours before he was due to testify before US Congress over the downfall of his multi-billion dollar cryptocurrency exchange platform, FTX founder Sam Bankman-Fried was arrested in the Bahamas yesterday. Reports say he’ll be extradited to the US after prosecutors filed criminal charges against him, including wire fraud, securities fraud, and money laundering. The 30yo stepped down as company CEO last month after FTX filed for bankruptcy as traders rushed to withdraw US$6 billion from the platform, and rival crypto exchange Binance backed out of a rescue deal at the last minute. Since then, it’s emerged Bankman-Fried secretly used US$10 billion in customer funds to prop up his other businesses, and then there’s at least US$1 billion that’s gone missing… As a result, it’s estimated over one million people have lost their crypto investments. The disaster has also caused Bitcoin and other digital assets to plummet, prompting calls for greater industry regulation.