Hello members of 
One of the recent news trend on internet is the arrest of Sam Bankman Fried, one of the crypto billionaire who got involved in a crash.
He is the owner of a FTX crypto, recently did he filed for bankruptcy. It seems a whole lot of people aren’t happy about the situation because they in one way or the other have invested into FTX which turned out to be loss on investment.
Mr SBF after the incident only filed for bankruptcy protecting himself but yesterday marked 12/12/2022 was he arrested by the Royal Bahamas Police against financial criminal involvement.
The united states in corporation with Bahamas police force are actively responsible in his extradition. However here is a statement confirming his arrest.
I read of an article which says SBF was also in affiliation with the recent luna crash and its terribly sad having considered it happened to himself.
This is a clear indication of illegalities in the crypto because what will be the assurance of investors to get back their funds? and even if they do, how about the sought for loss of value when they never had the opportunity to liquefy the asset even at thier reach.
It is quite unfortunate that in this period where everyone is managing finance as regards crypto investment to earn more in the global economic situation, someone who claims to be a CEO illegally involved in making the system crash down with investors funds.
Some invested their life savings; I also shared how a young man invested his company funds though he is back from the hospital. But literally it’s quite unusual for two huge crypto assets to experience a terrible crash just in one year alone.
It is a good action taken to get Mr SBF arrested but what will be the hope of returning the lost funds back to investors?
Is he going to only spend some time in jail without the real consideration been met?
I think this is also the best time for him to declare all of his assets which will be auctioned but the question remains if the funds generated will be sufficient to compensate all losses?
Another move is to make enquires about people who were affiliated with him before crash. This is to secure a track record of funds, how they were spent part could still be in their custody though it’s an odd option to choose but it could yield fruitful effort.
I suggest this is the phase where crypto has been massively introduced to the world, the impact it has created on minds of investors is the need to call for regulation where there are no centralized agencies concerned since crypto is a decentralized system.
Having funds trusted into the hands of only an individual will result into cases of such happening repeatedly in future but we can create a an AI system responsible for securing funds.
Having arrested SBF is a good move but making plans to curb the incident from happening in future will be a better one instead.
