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Sam Bankman-Fried, who’s going through costs in the US following the collapse of his cryptocurrency firm, FTX, is ready to waive extradition from the Bahamas throughout a court docket look that might happen as quickly as Monday, a number of sources acquainted with the matter informed ABC Information.
Federal prosecutors in New York charged Bankman-Fried, 30, in an eight-count indictment with stealing billions of {dollars} from FTX prospects and traders and utilizing it to repay money owed and bills in his privately-held hedge fund, Alameda Analysis, to purchase lavish actual property and to make $35 million in political donations.
A decide denied Bankman-Fried bail within the Bahamas, the place he was arrested Dec. 12, and has been held within the medical ward of the island’s Fox Hill jail.
Initially, Bankman-Fried declined to waive his proper to problem extradition to the U.S., however, in line with the sources, the crypto government is predicted to reverse his place as quickly as Monday.
This can be a creating story. Please examine again for updates.
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