Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, was ordered to jail on Friday after a judge revoked his bail.
The judge ruled that Bankman-Fried was a flight risk and that he had violated the terms of his bail by contacting witnesses in his case.
Bankman-Fried is facing charges of fraud and market manipulation.
Bankman-Fried has pleaded not guilty to the charges.
Bankman-Fried's arrest is a major blow to the cryptocurrency industry.
It is the first time that a major cryptocurrency figure has been arrested on criminal charges.
The arrest could have a chilling effect on the industry and could make it more difficult for cryptocurrency companies to raise capital.