FTX founder Sam Bankman-Fried allows extradition

[{"selector":"#anim-5b00ffcd-63d4-4fcb-b91e-1d12d6d8733d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.284090795523493%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] A Bahamas official said he faced fraud charges for the bitcoin exchange's failure.

[{"selector":"#anim-4f802e34-7827-4161-9d41-78542b9e17c9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Bahamas' acting corrections commissioner, Doan Cleare, told Reuters the documents were signed Tuesday at midday.

[{"selector":"#anim-1c33bef0-99c4-4d7f-9ade-c6f30a62fe0f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.284090795523493%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] A US-based Bankman-Fried lawyer did not reply to calls for comment.

[{"selector":"#anim-e5a31a91-5e19-48d7-9aca-0adf7af8f0df [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.2792967614035%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bankman-Fried intends to consent to extradition, according to a source.

[{"selector":"#anim-90bc5eee-b99f-43f9-9f30-16bd68a278b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(41.90504807356971%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bankman-Fried admits FTX risk-management shortcomings but denies criminal culpability.

[{"selector":"#anim-693221b8-274b-4b0c-96d9-2f426d5077c2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] On December 13, Bankman-Fried was detained in the Bahamas, where FTX was based.

[{"selector":"#anim-ef09a395-dffe-4222-890b-76bcc10fd45b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.179687404002955%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Over the weekend, Reuters and other outlets indicated that he will reconsider his extradition decision. Learn more