According to reports, Wang and Bankman-Fried were detained

Bahamian authorities (SBF) are reportedly keeping Gary Wang, co-founder of FTX, and Sam Bankman-Fried under surveillance. Bahamian authorities (SBF) are also monitoring the two. According to a formal notice, they are working closely with the Bahamas Securities Commission to investigate any criminal misconduct. Customers were unable to withdraw funds from FTX at the beginning of this week. However, the SCB stated that customers were unable to withdraw funds from FTX. Wang is also the company’s chief technology officer. He also advises Sequoia Capital which has made investments in a variety of digital companies, including DoorDash and Zoom. There is not much information online about him. However, some speculate that he may have a GitHub. Wang’s relationship with Sequoia could also explain the rapid rise of SBF. He claims that he made a profit from bitcoin arbitrage in 2017, by buying it in the US and then selling it in Japan. However, Marc Cohodes recently noted that this would have required a substantial amount of capital investment. SBF claimed to have made about $1 million every day over a period of about five weeks, however in order for this to have been conceivable, he would have required to purchase bitcoin at about $18,000 and sell it at about $19,000 with a minimum $18 million initial capital investment.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comAnnieCoinCu NewsTags: Bahamian authoritiesBankman-FriedFTXFTX co-founderFTX CollapseFTX.USGary WangSBF