Semafor LogoDiego Mendoza
newsNorth America

Sam Bankman-Fried to be extradited to the US tonight

Sign up for Semafor Flagship: A global, insightful daily briefing. Read it now.

Title iconThe News

Sam Bankman-Fried, the founder of the now-defunct crypto exchange service FTX, is set to fly back to the United States on Wednesday night after signing an extradition agreement in the Bahamas.

Sam Bankman-Fried
REUTERS/Marco Bello

Earlier reports had said that Bankman-Fried would fight his extradition to the U.S., where he faces several federal criminal charges for defrauding investors. However, after a confusing court hearing in the Bahamas on Tuesday, his lawyers confirmed that he had agreed to be extradited. He was being held in a prison in the Bahamas since his arrest last week.

Bankman-Fried was set to arrive at the Bahamas airport by 6 p.m. local time, Reuters reported. Both the Bahamian Attorney General and Ministry of Foreign Affairs also confirmed the extradition was in progress, according to CNN.

Bankman-Fried is an investor in Semafor.