Finally, Sam Bankman-Fried, the CEO of FTX has just been arrested and this is confirmed by the Bahamas police. Well, took quite a while to be honest but I guess that's has always been the case with crypto matters especially since there are no many strict laws on crypto related matters yet. I guess the delay in arrest was also because authorities were taking their time to understand what really went down and to find concrete reasons to arrest him.
So why is his arrest a good news for crypto?
As much as I still feel heartbroken with what happened to FTX, I believe it's right that SBF be arrested, questioned and made to face justice. The crypto space is well known for forgiving and easiy letting go of atrocities and crime, so so easily mostly because at the end of the day in most cases, no one can really do anything considering the fact that there are no crypto laws in most countries and the cost(time and money) of bringing people to face justice is enormous.
This I believe is why many people feels the crypto space is a safe haven for their crimes and atrocities since they can easily get away with them than in real time. The worse that usually happens to a person found wanting or with a unpleasant behaviours is that whatever is associated with them will be dumped like in the case of LUNA.
I think this is a great turning point and a good thing for crypto as a whole that SBF has been arrested. It did felt like nothing was gonna happen to him especially when he was going round for interviews. Well, this is also passing the message that with time, no one really would be able to get away with atrocities like it was in the early days and I think this is a good sign to those who are yet to get involved with cryptos and a relief for those who were massively affected by the crash, to atleast know that something was done and he wasn't living life like nothing happened.
I'm still expecting the news of Do Kwon's arrest. I learnt he was hiding in Serbia and haven't made any public appearances in a while. Hopefully we get to see more people answer for their crimes and atrocities around here. It would most definitely make the space safer and sane.
