Jump to content

Sam Bankman-Fried


Recommended Posts


Authorities in the Bahamas said the FTX founder had waived his right to challenge the extradition and Bankman-Fried was witnessed leaving a magistrate court in Nasssau in a dark SUV.

According to Reuters, a plane carrying the former chief executive departed the Bahamas from a private airfield by Nassau's airport.

Bankman-Fried is due to land at Westchester County Airport in New York and will likely appear in front of a US judge later on Thursday.

It comes after two of his associates pleaded guilty to criminal charges related to the FTX collapse.

Carolyn Ellison, former chief executive of Alameda Research - a trading firm started by Bankman-Fried - and Gary Wang, who co-founded FTX, pleaded guilty to charged "related to their role sin the fraud that contributed to FTX's collapse", US Attorney Damian Williams said.








Link to comment
Share on other sites

Mr Bankman-Fried has also denied allegations he must have been aware that Alameda was using FTX customer funds.

The FTX exchange allowed customers to trade normal money for cryptocurrencies such as Bitcoin.

Cryptocurrencies are not traditional currencies, but are stored online and act more like investment vehicles or securities - often with a high degree of volatility.

FTX had an estimated 1.2 million registered users who were using the exchange, but many have been left wondering if they will ever get back their cash trapped in FTX's digital wallets.

Mr Bankman-Fried was once viewed as a young version of legendary US investor Warren Buffett, and as recently as late October had a net worth estimated at more than $15bn.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...