minute read
ADVERTISEMENT
With up to $2 billion of customers' money missing, FTX founder Sam Bankman-Fried may be extradited back to the United States from the Bahamas.
The 30-year-old is at the center of a huge cryptocurrency controversy, after it was revealed that his crypto exchange had been "funneling money to a sister trading company run by his girlfriend," according to The New York Post.
Now, American and Bahamian authorities are discussing the potential extradition of Bankman-Fried to the US for questioning, according to a Bloomberg report.
Three people who are reportedly familiar with the matter told the outlet that conversations between the two countries' authorities have intensified in recent days, as they investigate his role in FTX's collapse. According to one anonymous inside source, Bankman-Fried is being cooperative with the Bahamian officials.
Bankman-Fried, who resigned from his CEO position, apologized to customers on Twitter after losing billions in their money. His own net worth was estimated to be $16 billion before the disaster, but according to the Daily Mail, his fortune has taken a dive by 94 percent.
"My goal—my one goal—is to do right by customers," the major Democrat donor wrote. "I'm contributing what I can to doing so."
According to the former billionaire, he's "meeting in-person with regulators and working with the teams to do what we can for customers."
"And after that, investors. But first, customers," he added.
As of last Friday, FTX has been in bankruptcy proceedings in the US courts, and other crypto firms are expected to follow.
Crypto lender BlockFi, which is financially entangled with FTX, is planning to lay off workers and is considering filing for bankruptcy itself, reported Wall Street Journal on Tuesday.
On Saturday, Bankman-Fried was seen in the Bahamas, where FTX is based.
"A source said the disgraced CEO and his father were spotted hunkering down with cops and federal regulators Saturday," reported The Post.
So far, no one has been arrested in connection to the lost money.
The 30-year-old is at the center of a huge cryptocurrency controversy, after it was revealed that his crypto exchange had been "funneling money to a sister trading company run by his girlfriend," according to The New York Post.
Now, American and Bahamian authorities are discussing the potential extradition of Bankman-Fried to the US for questioning, according to a Bloomberg report.
Three people who are reportedly familiar with the matter told the outlet that conversations between the two countries' authorities have intensified in recent days, as they investigate his role in FTX's collapse. According to one anonymous inside source, Bankman-Fried is being cooperative with the Bahamian officials.
Bankman-Fried, who resigned from his CEO position, apologized to customers on Twitter after losing billions in their money. His own net worth was estimated to be $16 billion before the disaster, but according to the Daily Mail, his fortune has taken a dive by 94 percent.
"My goal—my one goal—is to do right by customers," the major Democrat donor wrote. "I'm contributing what I can to doing so."
According to the former billionaire, he's "meeting in-person with regulators and working with the teams to do what we can for customers."
"And after that, investors. But first, customers," he added.
As of last Friday, FTX has been in bankruptcy proceedings in the US courts, and other crypto firms are expected to follow.
Crypto lender BlockFi, which is financially entangled with FTX, is planning to lay off workers and is considering filing for bankruptcy itself, reported Wall Street Journal on Tuesday.
On Saturday, Bankman-Fried was seen in the Bahamas, where FTX is based.
"A source said the disgraced CEO and his father were spotted hunkering down with cops and federal regulators Saturday," reported The Post.
So far, no one has been arrested in connection to the lost money.
ADVERTISEMENT
ADVERTISEMENT
Sign in to comment
Powered by StructureCMS™ Comments
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
Comments