The FTX’s founder Sam Bankman-Fried has reportedly agreed to waive his right to contest the extradition in the hearing in the Bahamas Supreme Court scheduled on 21 December. He is expected to be extradited to the US and charged with eight counts of financial crimes. The FTX’s founder is alleged to commit conspiracy to commit wire fraud on customers and lenders, securities fraud, commodities fraud, money laundering and conspiracy to defraud the US and violate the campaign finance law.