Former FTX CEO Sam Bankman-Fried was arrested on Monday, and Crypto Twitter can’t get enough.
The 30-year-old was picked up by the Royal Bahamas Police Force after the local government received a formal notice from the U.S. that it had filed charges against him and likely would seek his extradition.
News of the arrest comes about a month after SBF's crypto exchange declared bankruptcy and he resigned as CEO. For some Twitter users, the arrest couldn’t have come soon enough.
Many celebrated the arrest of SBF, who’s been accused of using customer funds deposited at FTX to fund risky bets at his trading company, Alameda Research.
crypto twitter after hearing SBF got arrestedpic.twitter.com/OSOIiks2r5
— yzy.eth (@LilMoonLambo) December 12, 2022
Live footage of SBF being arrested 😮👀🚨pic.twitter.com/HzpH8jFuOD
— Rahul.eth (@rahuldoteth) December 12, 2022
Rumors had been circulating online since FTX’s implosion last month that somehow SBF would be protected from prosecution because of his numerous political donations to politicians, although that was not the case.
Still, some users lamented that Bankman-Fried had managed to tarnish the entire reputation of crypto while also risking billions of dollars in customer funds.
Crypto Twitter seeing the news that SBF was arrested pic.twitter.com/F9wYtcEN5Y
— Wizzⓨ (@wizzyknows) December 13, 2022
heading to outer space? pic.twitter.com/1DXXuVMkY8
— PLATO (@PlatoNFT) December 11, 2022
Some on Crypto Twitter speculated that SBF may have even been arrested during a gaming session—after he reportedly played video games during a pitch meeting with Sequoia Capital.
SBF’s League of Legends teammates hearing him get arrested mid-game pic.twitter.com/QWrL4Mch2Y
— alexjm 🍿 the blue roo 🦘 (@alexjmingolla) December 13, 2022
— psychlone.eth (@psychloneNFT) December 13, 2022
After the implosion of FTX, the collapse of Three Arrows Capital, and much of the bad news surrounding crypto this year, some online are speculating that the market finally may be nearing the bottom with SBF’s apprehension. Some are even sarcastically rooting for the dead crypto token Luna Classic to make a comeback after its value plummeted during the TerraUSD debacle earlier this year.
Now that SBF has been arrested can we start the $LUNC & $LUNA pump? 🚀🔥🤷♀️
— WSB Trader Rocko 🚀🚀🚀 (@traderrocko) December 13, 2022
— Nabeel 🇮🇳📈 (@DeFi_Nabeel) December 13, 2022
