FTX founder expected to drop fight against extradition to U.S.
CBSN
Sam Bankman-Fried arrived at a courthouse in the Bahamas early Monday and is expected to tell a judge he will not fight extradition to the U.S., where he faces multiple criminal and civil charges related to the collapse of cryptocurrency exchange FTX.
The decision comes just a week after Bankman-Fried's lawyers had initially said that they planned to fight extradition. An extradition hearing had been scheduled for February 8. His turnabout could speed up the timetable for him to be sent to the U.S.
Bahamian authorities arrested Bankman-Fried last Monday at the request of the U.S. government. The former FTX CEO faces criminal charges in the U.S., including wire fraud and money laundering, as well as civil charges. The 30-year-old could potentially spend the rest of his life in jail.
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