Arrested crypto boss hugs parents as he is denied bail over ‘one of biggest financial frauds in US history’

Former cryptocurrency exchange boss Sam Bankman-Fried hugged his parents after being denied bail on charges relating to “one of the biggest financial frauds in American history”.

The 30-year-old founder of FTX, has been charged by the US Securities and Exchange Commission (SEC) with fraud and violating campaign finance laws. He is also being sued.

Following his arrest in
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