Sam Bankman-Fried, the former CEO of FTX, has agreed to be extradited from the Bahamas to the U.S. to face charges related to the failed crypto exchange's collapse.
in the Bahamas at the request of the U.S. government based on charges of wire fraud and conspiracy filed in the U.S. with wire fraud and conspiracy to commit wire fraud against lenders and customers, conspiracy to commit securities fraud, conspiracy to commit money laundering, and violations of campaign finance laws.
A handful of people who said they were either crypto enthusiasts or FTX customers came to the courthouse to witness the proceedings. During her time at the MDC, which houses around 1,600 prisoners, Maxwell's lawyers repeatedly complained to a judge that it was unsanitary, plagued by cockroaches and rodents. In recent years, three guards there have been convicted of sexually abusing inmates. In 2019, a power failure left inmates shivering for a week in the dead of winter.
Before the bankruptcy, Bankman-Fried was considered by many in Washington and on Wall Street as a wunderkind of digital currencies, someone who could help take them mainstream, in part by working with policymakers to bring more oversight and trust to the industry.
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