For many customers burned by the whirlwind collapse of FTX, the arrest of founder Sam Bankman-Fried offered them the chance to take a brief sigh of relief—but not much more.
Prosecutors and regulators alleged this week that Mr. Bankman-Fried stole billions of dollars from FTX customers in one of the biggest financial frauds in American history. Much of the money, they said, propped up trading firm Alameda Research, also largely owned by Mr. Bankman-Fried.
