The post Sam Bankman-Fried is remanded to Jail Following a bail hearing in New York! appeared first on Coinpedia Fintech News
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been remanded to jail following a bail hearing in New York. US prosecutors have deemed the disgraced crypto mogul a flight risk, accusing him of misleading investors and manipulating digital currencies. Bankman-Fried was arrested on Thursday and has now been ordered to be held without bail until his trial. The charges stem from his management of FTX, which is accused of allowing illicit transactions and failing to comply with laws and regulations. The arrest is the latest blow to the cryptocurrency industry, which has faced increased scrutiny from regulators in recent months.