Crypto magnate Sam Bankman-Fried has given his consent to extradition from The Bahamas to the USA.
The FTX The founder and CEO of the cryptocurrency exchange had an affidavit read in court in Nassau on Wednesday, confirming that he is ready to travel to New York to face a series of fraud charges.
Bankman-Fried accepted the extradition in part due to a “desire to make the affected customers whole,” according to a document dated December 20.
The 30-year-old tycoon, wearing a suit, took the stand and told the judge: “Yes, I waive my right to such formal extradition proceedings.” His lawyer then informed the judge that his client was “eager to go.”
After these statements, the hearing was adjourned.
Agents from the FBI and the US Marshals Service, who are responsible for transporting people in US custody, have already arrived in the Bahamian capital, according to a person familiar with the matter.
It is not yet clear when Bankman-Fried will be removed from The Bahamas and brought to New York.
Federal prosecutors in Manhattan last week charged the cryptocurrency tycoon with stealing billions of dollars from FTX customers, Alameda Research, in what US Attorney Damian Williams called “one of the biggest financial frauds in US history.”
Bankman-Fried was arrested in response to a US extradition request last week.
Although he acknowledged failures in risk management at FTX, he said he does not believe he is criminally liable.
His personal wealth is believed to have increased to $20 billion (£16.2 billion) at the peak of the exchange, but has since dropped to $100,000 (£83,000).
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