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The US and the Bahamas have discussed the possible extradition of former cryptocurrency billionaire Sam Bankman-Freed to the US for questioning over the collapse of his company, Fox Business confirmed on Wednesday.

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Bankman-Fried’s FTX collapsed last week, going from a world-class cryptocurrency trading company to filing for bankruptcy. Bankman-Fried lives in the Bahamas, where the company is also registered. Top Democrat donor faces growing calls for US investigation

Bankman-Fried has cooperated with Bahamas authorities so far, having filed at least one interview with the police. The country is conducting its own criminal investigation into the incident.

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Senator Sherrod Brown, D-Ohio, also urged Bankman-Fried to testify before Congress. Brown urged the SEC to more aggressively investigate crypto companies like FTX.

FTX was the world’s third-largest crypto market early last week when it announced liquidity issues and said it would need a massive injection of cash to stay afloat.

Binance, the world’s largest cryptocurrency marketplace, initially stepped in and offered to buy the company, but pulled out of the deal after reviewing FTX’s finances.

Reuters, citing two people familiar with the matter, said at least $1 billion worth of customer funds had disappeared and that people had told the news outlet that Bankman-Fried secretly transferred $10 billion customer funds from FTX to its trading company, Alameda Research.

Sherrod Brown

Two sources told Reuters that Bankman-Fried — in a meeting he confirmed took place — shared the tapes with other senior executives who exposed the financial hole.


Spreadsheets reportedly showed that $1 billion to $2 billion some of the funds were not counted among Alameda’s assets and that the spreadsheets did not indicate where the money had been moved.