Sam Bankman-Fried, founder and former chief executive officer of bankrupt cryptocurrency exchange FTX, has signed extradition documents in the Bahamas and is scheduled to return to the U.S. on Wednesday, Bahamas Acting Commissioner of Corrections Doan Cleare confirmed to Reuters

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Fast facts

  • Bankman-Fried is expected to appear at a Bahamian court on Wednesday morning, U.S. time, and will fly to the U.S. on a federal aircraft later that day.
  • In the U.S., the FTX founder faces eight federal charges including money laundering, wire fraud and securities fraud.
  • Bankman-Fried’s legal team is reportedly in talks with U.S. prosecutors for him to be released on a bail deal after extradition. 
  • FTX was among the world’s largest crypto exchanges, and Bankman-Fried was among the most influential industry figures until the exchange’s solvency problems became known last month. 
  • FTX and Alameda Research filed for Chapter 11 bankruptcy protection on Nov. 11, and the company’s collapse caused damages worth billions of dollars for users and investors around the world.

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