Sam Bankman-Fried Could Be Extradited to the US Amid FTX Investigation

The USA and Bahamas authorities are discussing the opportunity of bringing Sam Bankman-Fried to the US for questioning as new authorized proceedings towards FTX and its former CEO have been additionally launched on Wednesday. SBF’s collapsed crypto trade FTX, which filed for chapter within the US final week, has fanned fears about the way forward for the crypto trade after it outlined a ‘extreme liquidity disaster’. Since then, the regulators have opened investigations and the lawmakers have referred to as for clearer guidelines on how the trade operates.

Citing a number of sources concerned within the discussions, a Bloomberg report acknowledged that “conversations between law-enforcement officials in the two countries have intensified in recent days,” and that Bankman-Fried has been “cooperating” with the Bahamian authorities, who interviewed him on Saturday.

The report stated nobody concerned within the collapse of FTX and Alameda has been arrested or taken into custody but. The US Justice Division, the US Legal professional’s Workplace for the Southern District of New York, and the Royal Bahamas Police’s monetary crimes unit all declined to remark as of Wednesday morning.

Along with the previous CEO, FTX co-founder Gary Wang and director of engineering Nishad Singh are nonetheless within the Bahamas and stay “under supervision” by native authorities. Over the weekend, there have been rumours that Bankman-Fried and Alameda CEO Caroline Ellison have been seeking to flee to Dubai.

On Tuesday night, SBF posted a collection of tweets claiming that “to the very best of [his] information,” Alameda had more (illiquid) assets than liabilities marked to market; Alameda had a margin position on FTX International; and that FTX.US still had enough to repay all its customers. “Not everyone necessarily agrees with this,” he wrote.

He claimed that his one goal is to “do proper by prospects” and that he’s been meeting in person with regulators. He didn’t specify which regulators, representing which countries. He said that there was too much leverage, “greater than I realised. A run on the financial institution and market crash exhausted liquidity.”

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