FTX founder Sam Bankman-Fried has signed extradition papers in the Bahamas and will now be flown to the US to face criminal charges.

The crypto-exchange boss was arrested in the Bahamas last week after federal prosecutors in New York filed an eight-count indictment, including allegations of fraud and conspiracy.

Mr Bankman-Fried initially said he would contest extradition from the Bahamas - where he lives and where FTX is based - but reportedly reversed his decision on the weekend.

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