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Sam bankman freed has been arrested in The Bahamas and uh the big question is What happens now what happens next for Sam bankman freed and also the Cryptocurrency market that's exactly What we're going to be talking about in This video so guys here is the breaking News FTX founder Sam bankman freed has Been arrested set to be extradited to The USA so the Royal Bahamas police have Arrested SBF at the request of the U.S Government based on a sealed indictment So sandbankment freed has been arrested By authorities in the Bahamas at the Request of the US government just a day Before the disgraced former FTX CEO was Due to testify before Congress so the U.S government has filed criminal Charges against Sam bankman freed and What's been reported right here is that The charges against SPF include wire and Securities fraud conspiracy to commit Wire and securities fraud and money Laundering so some very serious charge Charges coming out of the USA and you Can see right here this big tweet coming Out of an official USA Twitter account USA Damien Williams earlier this evening Bahamian authorities arrested Samuel Bankman Freed at the request of the US Government based on a silt indictment Filed by the sdny we expect to move to Unseal the indictment in the morning and Will have more to say at that time so

This story is massively developing right Now and uh what else is interesting is That the Bahamian authorities are also Undertaking their own investigation and That is ongoing right there and you guys Can see right here this official letter Coming out of the Office of the Attorney General Ministry of legal Affairs in the Bahamas so that is the official letter Coming out of the Bahamas and in Addition what else is going to be Happening is the SEC will apparently File separate charges against ftx's SBF So there's going to be multiple charges Against SPF including some big charges Coming out of the SEC and the SEC says Here on Twitter we commend our law Enforcement partners for securing the Arrest of sandbankment free on federal Criminal charges the SEC has authorized Separate charges relating to his Violations of Securities laws to be Filed publicly tomorrow in sdny so Things are definitely not looking good For Sam bankman freed right now and There has been a massive reaction over On Twitter as this news broke if you Guys have been following me over on Twitter I did put out that notification Pretty much minutes after I saw the news And you can see big reactions from Politicians in the US you can see Reactions from another politician in the US so Senator Cynthia Loomis has said

Right here what happened at FTX appears To be good old-fashioned fraud and I'm Glad prosecutors have been investigating What happened to ensure everyone who Committed crimes is held accountable for What they did and the memes are also Coming out as well so you can see Dre The Noid dropping this Meme and you've Got the Star Wars Episode 2 meme right Here so the whole thing is a scam we're Not going to jail right we're not going To jail right so things are not looking Good for sandbankment free and so what Are the actual next steps so I've seen This article get posted here's what Happens next for sambang Manfred here's What happens for FDX and then we're Going to talk about the crypto Market as Well what do I think is going to happen Next with the crypto market so really Importantly you know if we skip down to This important section of the article it Says right here extradition is the first Step in a process that could take years To finish given the magnitude of Bateman Freed's alleged crimes prosecutors and Regulators will be pursuing concurrent Cases around the world a trail in the US May not occur for years Mariotti said so Mariotti is an expert in the article Right here the more they charge the Bigger the case is the more time they're Going to need to get in motion he said I Would say late 2023 is the earliest a

Trial would occur so that is not for a Whole entire another year so this Saga Is going to continue to drag on and uh They've also mentioned right here that Sam bankman freed in a worst case Scenario for himself he could be facing A life Behind Bars so it says right here If the doj were able to secure a Conviction a judge would look to several Factors to determine how long to Sentence him based on the size of the Losses if bankman freed is convicted on Any of the fraud charges he could be Behind bars for years potentially for The rest of his life said Braden Perry a Partner at Kenny Hertz Perry who advises Clients on anti-money laundering Compliance and enforcement issues so Guys that is potentially what is Awaiting Sam bankman freed right now so These are serious charges there's Multiple charges things are not looking Good and the long arm of the law is Potentially coming to get this guy right Now so a massive day on the crypto Markets so on top of that there is a lot Of fud circulating around for binance Right now so there is a lot of fun Getting targeted against binance right Now I'm not too rattled by this fud so I'm not really buying into the fight Personally I am still a fan of the BNB Coin I'm still a fan of the binance Smart chamber you can see the impact of

Some of this flood right now as there's A bit of a sell-off on the binance coin Right here so you can see that five Impacting the price but I'm staying Bullish on BNB and a lot of the projects On the binance smart chain as well and You can see over on Twitter CZ of Binance is fighting the fud right now And he's also ignoring it in some Sections he says ignore the fud keep Building and uh he thinks the media have It in for him and I think potentially he Might have a case right there but they Are putting out big articles against Reuters right now about some of the Rumors so sometimes these media articles Will cite you know Anonymous sources Which could literally be anything to a Fitter narrative but you know that is Something to be aware of in the crypto Market today and if we do take a look at The crypto process guys we are up Slightly in the last 24 hours so Bitcoin Is looking good ethereum is looking good Good A lot of the cryptos are going up By now slightly down today Dogecoin up 1.8 percent Shiva Inu holding steady and Uh where is Luna classic sitting so Lunar classic holding steady in the Market and I think what's going to Happen and what I want to see with uh FTX and sandbankment freed is uh look I Want to see Justice Prevail I want to See a fair investigation happen and a

Fair court process happen and then on Top of that I think it would be really Good for people to get back to the Basics of crypto so you have to remember Despite all this fight about centralized Exchanges you know crypto you can Operate off a centralized exchange you Don't need to use you don't need to keep Your crypto long term on FTX or even Binance or any other type of centralized Exchange you can use a decentralized Wallet and remember the crypto Technology has never been stronger and It's getting stronger every day more Innovation is happening in Cryptocurrency and guys I'm staying the Course in crypto I'm not going to get Flooded out of the market and we're Going to be in it for the long term so If you guys enjoyed the update hit the Thumbs Up Button if you guys want to Join the quest towards Financial Freedom All you need to do subscribe hit that Notification Bell you guys can also Follow me over on Twitter for instant Notifications but guys appreciate you Tuning in have a good one and I'll see You guys in the next one crypto Zeus Signing out

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