FTX’s Sam Bankman-Fried expected to consent to his extradition to U.S.

FTX co-founder Sam Bankman-Fried is planning to consent to extradition to the U.S. to face criminal charges related to the cryptocurrency exchange’s collapse, people familiar with the matter said.

Bankman-Fried has been in custody in the Bahamas since he was arrested on Monday in connection with a slate of U.S. criminal charges, which were unsealed a day later. Federal prosecutors in Manhattan have charged Bankman-Fried with fraud and money-laundering offenses, alleging he defrauded customers, lenders and investors. They also alleged he violated campaign-finance rules by making illegal political contributions.

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