Sam Bankman-Fried to be Extradited to the US

The former CEO of collapsed crypto exchange FTX could arrive in New York to face charges as early as Wednesday afternoon.

AccessTimeIconDec 21, 2022 at 5:33 p.m. UTC
Updated May 9, 2023 at 4:04 a.m. UTC
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Sam Bankman-Fried's days in the Bahamas are numbered.

The disgraced former CEO of the Bahamas-based crypto exchange FTX, which collapsed last month, was arrested at his apartment in the country's capital last week and initially fought extradition to the U.S. When his request for bail was denied by a magistrate judge, Bankman-Fried was remanded to custody at the Bahamas' notoriously cramped and dangerous Fox Hill prison.

After less than a week in Bahamian custody, Bankman-Fried appeared at court on Monday to ask a new magistrate judge, Judge Shaka Serville, to be extradited to the U.S. The hearing appeared to come as a surprise to both Bankman-Fried's local counsel, Jerone Roberts, and Bahamian prosecutors, and he was sent back to Fox Hill.

Bankman-Fried's request was eventually granted during the most recent hearing on Wednesday. The timing of Bankman-Fried's extradition remains unclear, but the New York Times reported that he could arrive as early as Wednesday afternoon, where he would be arraigned in New York's Federal District Court in Manhattan.

Bankman-Fried is facing eight felony counts that could collectively result in a life prison sentence, if he is convicted.


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Cheyenne Ligon

Cheyenne Ligon was a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

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