NEW YORK CITY: The former chief executive officer (CEO) of failed cryptocurrency firm FTX has been arrested in the Bahamas at the request of the United States government, American and Bahamian authorities announced on Monday.

The arrest of Sam Bankman-Fried was made on Monday after the US filed criminal charges that are expected to be unsealed on Tuesday, according to US Attorney Damian Williams. Bankman-Fried had been under criminal investigation by the US and Bahamian authorities following FTX's collapse last month. The firm filed for bankruptcy on November 11 when it ran out of money after the cryptocurrency equivalent of a bank run.