FTX founder Bankman-Fried agrees to extradition and departs the Bahamas

FTX founder Sam Bankman-Fried boarded a flight to the US on Wednesday to face fraud charges as federal prosecutors revealed that two of his former associates had admitted guilt and were now working with the government.

In a video posted on Twitter late on Wednesday, Manhattan US Attorney Damian Williams announced that Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX, had admitted guilt to defrauding investors in the cryptocurrency trading platform. Pressure on Bankman-Fried increased significantly after it was revealed that two of his closest ex-colleagues had chosen to work with the government.