May 21, 2024

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Founder of bankrupt cryptocurrency exchange FTX stops fighting extradition to US |  encryption

Founder of bankrupt cryptocurrency exchange FTX stops fighting extradition to US | encryption

Sam Bankman Fried, founder of the bankrupt cryptocurrency exchange FTX, who is currently imprisoned in the Bahamas, wants to end his fight against extradition to the United States. This was reported by the Reuters news agency on the basis of insiders. The US authorities accuse Bankman Fried of several criminal offenses and want him to be tried in the US.

a look. Sam Bankman-Fried, founder of the bankrupt cryptocurrency exchange FTX, was arrested in the Bahamas on Monday

FTX went bankrupt because the company did not have enough money to pay off users’ balances. This was partly due to the transfer of client assets from FTX to the Alameda Investment Fund, which also belongs to Bankman-Fried. There I stumbled into investments.

eight crimes

US authorities suspect Bankman Fried of a total of eight criminal offenses. In addition to improper use of customer funds in Alameda’s FTX, it could also involve misleading lenders and customers about the financial health of crypto companies. He would have laundered proceeds and violated US campaign finance laws.

A hearing is scheduled for February 8 regarding Bankman-Fried’s extradition to the United States. His lawyer said during a hearing on Tuesday that he would oppose the extradition plans.

Ankle bracelet request denied

That session was the first after Bankman-Fried held the previous day Captured in the Bahamas. During the hearing, his attorney also suggested that Bankman-Fried wanted $250,000 in cash as security. According to his lawyer, Bankman-Fried will be allowed to leave his cell and wear an ankle bracelet. However, the judge went there do not agree Because of the high risk of flying.

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