FTX Crash: Former CEO, SBF Likely To Be Extradited To The US

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Former FTX exchange CEO, Sam Bankman-Fried has been under a series of investigations, following the sudden collapse of the exchange. In a recent update, it has been revealed that SBF is likely to be extradited by American law enforcement agencies to the United States. 

American Authorities In Talks To Extradite SBF to US

According to an update from Bloomberg, American law enforcement bodies have met with the Bahamian to extradite SBF. A Series of investigations are going on around the debacle surrounding the sudden collapse of the exchange.

Bloomberg asserted that the American authorities have requested Sam’s extraction since a week ago. However, the request was declined by the Local (Bahamian) authorities, who alleged that Sam was cooperating with investigations.

The request for extradition by the U.S. authorities intensified after the exchange’s wallet was hacked a few days ago. Following the claims and announcement of the million-dollar fund siphon from the FTX wallet, investigations around the exchange have heightened.

After FTX group filed for Chapter 11 bankruptcy, the firm has been under the surveillance of the Bahamian Authorities. FTX also included all affiliated companies in the bankruptcy filing. The Bahamian Security and Exchange Commission has frozen all digital/virtual assets owned by the FTX group and also withdrawn its registration and license.

SBF Under Strict Surveillance and Investigations

Sam Bankman-Fried has been placed under strict surveillance and investigation by different enforcement agencies across countries and continents. The United States SEC announced the kick-start of its investigation after the company banned withdrawals way before declaring bankruptcy.

The United States Department of Justice, Security Exchange Commission, Financial Protection Innovation, and Commodity Future Trading Commission have launched an investigation into the exchange.

An affiliated company, Alameda Research was also investigated alongside FTX after a million-dollar fund was moved from FTX a few days ago. There are allegations that the FTX was hiding under bankruptcy to cover up its crime and other security violations.

Last week, there were rumors that Sam Bankman tried to flee from the Bahamas as his plane was allegedly sited in Argentina. However, the rumor turned out to be fake as the authorities confirmed his location was still in the Bahamas. 

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