Sam Bankman-Fried Seeks Bail

On Wednesday night, Bahamas Attorney General Sen. Ryan Pinder confirmed that Sam Bankman-Fried will be extradited to the United States. According to CNN, the Ministry of Foreign Affairs in the Bahamas released a statement saying “Bankman-Fried will be extradited after the Foreign Minister of the Bahamas signed a warrant of surrender allowing his extradition to the United States.”

Earlier in the month, it was reported that Bankman-Fried’s lawyers were “negotiating with federal prosecutors in New York on a bail arrangement that would enable him to avoid detention.” During the hearing on Wednesday morning, the court was told that Bankman-Fried “agreed to extradition to the US”, and wanted to “waive his right to formal extradition proceedings” in the Bahamas. During the hearing, federal prosecutors charged him with “orchestrating one of the biggest financial frauds in American history.” Once Bankman-Fried returns to the US, he will have a bail hearing in Manhattan.