CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building on Capitol Hill December 8, 2021 in Washington, DC. The committee held a hearing on “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.” (Photo by Alex Wong/Getty Images)

OAN Newsroom Correspondent Roy Francis
UPDATED 5:19 PM PT – Monday, December 12, 2022

Sam Bankman-Fried, the CEO of the bankrupt cryptocurrency platform FTX, has been arrested by the Royal Bahamas Police Force.

The Royal Bahamas Police arrested Bankman-Fried on Monday after the U.S. shared a sealed indictment with the island nation’s government. The United States is likely to request an extradition.

The Attorney General for the Bahamas, Ryan Pinder, spoke about the arrest.

“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public’s trust and broken the law,” he said.

Pinder also said that the Bahamas will continue its investigation into the failed cryptocurrency platform. The U.S. will also pursue its own charges against Bankman-Fried.

The ex-billionaire is currently in the Bahamas after calls for him to testify before the Senate about the collapse of FTX.

In this photo illustration, a man looks at a graph representing the 12 month decline of the FTSE 100 share index on October 7, 2008 in London. (Photo by Peter Macdiarmid/Getty Images)

OAN Newsroom
UPDATED 2:27 PM PT – Monday, December 12, 2022

Despite numbers showing a better bounce-back in growth, the U.K. Finance Minister Jeremy Hunt is not highly optimistic.

He says, that overall numbers “confirm that this is a very challenging economic situation.”

New figures show that there was a 0.5% growth in October following September’s 0.6% drop. This was mostly affected by the public holiday for the Queen’s funeral. Data suggests that a U.K. recession is highly likely.

During the three months leading to October, the U.K. economy had experienced the biggest drop since the lockdowns of 2021 due to COVID. 

Investors and analyst have painted a bleak outlook for 2023 with the Bank of England.

On Thursday, the financial institution is looking to raise interest rates again for a ninth time in a row to maintain the inflation risk below 11%.

Reacting to the numbers, Hunt said that there was a “tough road” ahead, blaming the surging gas prices and the war in Ukraine for the rising inflation.