FTX founder Sam Bankman-Fried has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research. Bankman-Fried has pleaded not guilty to fraud charges.
The Bahamas ordered Sam Bankman-Fried, the founder of collapsed cryptocurrency business FTX, to be extradited Wednesdayto face charges of fraud in New York.
Sam Bankman-Fried's FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.
Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.