Twitter Floods with FTX Memes

  • The founder of Bankrupt crypto exchange FTX was arrested in the Bahamas on Dec 13. 

  • After SBF's arrest, US politicians and crypto influencers flooded Twitter with memes and expert views.

  • The event helped regain crypto investors' faith in the judicial processes.

13 Dec 2022 By: Ashish Sarswat
Twitter Floods with

On December 13, the Bahamian authorities arrested the former CEO 

Of the bankrupt crypto exchange FTX. This significant step comes after US prosecutors filed criminal charges against SBF.

As per reports, Sam Bankman-Fried has been charged with wire fraud, wire fraud conspiracy, money laundering, and securities fraud. Following SBF's arrest, the crypto Twitter community started reacting to the move by posting hilarious SBF memes.

Not just individuals, but prominent leaders, also commented on the event, claiming that SBF will most likely face life imprisonment. In line with this, one member of the House Financial Services and Foreign Affairs Committees questioned the move, asking why SBF wasn't allowed to testify first and answer their questions.

In addition, Abe Hamadeh, the Republican nominee for Arizona Attorney General, shares the same sentiment. New York Democratic Representative Alexandria Ocasio-Cortez also stated that she is disappointed that she will not be able to question SBF but looks forward to "justice being served."

The above prominent leader's comment clearly indicates that law enforcement is safeguarding SBF from testifying. Moreover, some believe the FTX founder is being shielded because of the large political donations he made earlier this year.

Crypto Twitter Community Reacts with Funny FTX Memes 

On one hand, we have prominent figures speaking out on the issue, and on the other, we have memes. Memes about SBF's arrest have started to circulate on the internet. Despite the intensity of the situation, the internet has a way of turning things around. As a result, the memes were expected.

Memes about SBF's arrest

However, many people have breathed a sense of relief as a result of the situation. The Bahamian authorities' actions have helped regain the faith of individuals in the judicial process.

SBF Arrest Update

The Securities and Exchange Commission (SEC) of the United States announced in a release that it has filed multiple charges against Sam Bankman-Fried.

As per the release, the commission accused SBF of organizing a plan to defraud equity investors through FTX trading Ltd. SBF has also been accused of scamming equity investors by utilizing billions of dollars in customer funds for undisclosed venture capital.

Experts believe that the abovementioned charges will most probably increase the chances of life imprisonment for Sam Bankman Fried or a detention term for a maximum of 15 years.

Which of the three above-portrayed memes do you like the most, and what do you think about SBF's upcoming court verdict? Share your thoughts in the comment section below.

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