"The arrest of Sam Bankman-Fried yesterday was sudden and unexpected in light of Bankman-Fried’s plan to testify before Congress. As a criminal defense attorney, my reaction to the arrest last night remains unchanged: this is the first time that I can recall where prosecutors moved aggressively to stop a defendant from making self-incriminating statements."

"Core to Bankman-Fried’s account of how FTX ended up with a roughly $8bn shortfall of client assets was excessive lending by the exchange to Alameda, which ploughed the money into venture capital investments and doomed bets on digital tokens."

"FTX’s founder, 30-year-old Sam Bankman-Fried — now suspected of having absconded with $1 billion to $2 billion of client funds as the exchange went belly-up in mid-November — was a top donor to the Democratic Party, second only to George Soros."