Sam Bankman-Fried plans to drop his struggle in opposition to extradition to the US to face a variety of felony costs, in response to individuals acquainted with the matter.
The disgraced co-founder of crypto alternate FTX has been locked up within the Bahamas since final Monday when he was arrested on the request of American authorities. US prosecutors have accused him of a variety of crimes together with wire fraud.
Bankman-Fried is anticipated to reveal that he will not struggle extradition in a courtroom look subsequent week, stated the individuals who requested to not be named because of the sensitivity of the matter. Earlier than his arrest, in quite a few interviews following FTX’s implosion final month, the 30-year-old denied knowingly committing fraud or breaking the regulation.
