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 Cryptocurrency exchange FTX founder Sam Bankman-Fried has been arrested in the Bahamas island. He was indicted on eight criminal charges including wire fraud and conspiracy by misusing customer funds.

Fried is expected to appear in court in Nassau Tuesday morning for "financial offenses."

The 30-year-old has left many investors unable to withdraw their funds after he filed for bankruptcy. FTX owed around $32 billion to its investors after raising more than $1.8 billion since launching in May 2019.

Among the biggest investors are BlackRock, Sequoia Capital and the Ontario Teacher's Pension Plan.

Still unclear how much each depositor would get at the end of bankrupcy proceedings - though several experts have warned that a small amount might will returned.

FTX is a crypto exchange company which allow customers to trade standard currency in exchange to Bitcoin.

Fried is well known in Washington DC as a political donor, mostly to democratic politicians or groups.

"Earlier this evening, Bahaminian authorities arrested Samuel Bankman-Fried at the request of the US Government, based on the sealed indictment filed by the SDNY (Southern District of new York). We expect to move to unseal the indictment in the morning and will have more to say at that time," The US Attorney's office in Manhattan said in a tweet.

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