According to the latest reports, the convicted FTX co-founder Sam Bankman-Fried has given clear indications that he is getting ready to be extradited to the United States from the Bahamas, as early as Monday. After being detained in Nassau the previous week, Bankman-Fried is scheduled to appear in a court in the Bahamas, where it is anticipated that he would consent to be extradited to the United States in order to face allegations of fraud.

Despite the arrest of Sam Bankman-fried “SBF”, the ex-CEO of FTX in the Bahamas on Dec 12, Congressional hearings on the FTX debacle kicked off as planned mid-week. Kevin O’Leary, accused of receiving $15 million to promote FTX despite allegedly knowing the exchange’s fraudulent activities testified on Dec 14. When asked by Senator Pat Toomey why he thought FTX failed, he noted that FTX and Binance were at war with each other, putting the other out of business intentionally. “Binance is a massive unregulated global monopoly now. They put FTX out of business,” he said.

Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that has received stolen customer money, we ask that you work with us to return that money to the innocent victims,” said a U.S. district attorney following the arrest of Bankman-Fried.

According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. Congress that Joseph Bankman and “the family certainly received payments” from FTX.

FTX Japan Holdings was acquired in April 2022 by FTX Trading, which continues to directly own 100% of the equity interests.

2022 brought a tumultuous run of black swan events ranging from Terra to Three Arrows to macro market recession to FTX’s historic fraud.

Before the cryptocurrency exchange, FTX collapsed, it had set up a charity arm called FTX Foundation. The foundation’s website&nbsp;<a href="http://ftxfoundation.org/">ftxfoundation.org</a>&nbsp;is no longer available.&nbsp;&nbsp;

Bear markets are a time for investors to reassess their goals and strategies, and to learn more about the cryptocurrency industry.

General Counsel of Ripple stated that Kevin and all other FTX venture investors should challenge the SEC. They should demand that the SEC should stop spending taxpayer money on its tag along case against SBF.

In an interview with CNBC on September 16 (FTX filed for bankruptcy on November 11, 2022), Bankman-Fried noted that he does not care about his legacy in the crypto space, maintaining his primary focus was on creating impact.&nbsp;

The Securities and Exchange Commission (SEC) was "asleep at the wheel" regarding how FTX Group and its subsidiaries met financial and corporate control requirements, Representative Pete Sessions said in the Saturday Report on December 17.

Reuters reported that “a person familiar with the matter said on Saturday” that Sam Bankman-Fried (SBF) plans to be more accepting of being extradited to the United States. The source noted that SBF will “reverse his decision to contest extradition” when he appears in court on Monday. The former FTX CEO was supposed to remain at Fox Hill until Feb. 8, 2023, after judge Ferguson-Pratt denied SBF’s request to be released on bail.

How is Sam Bankman-Fried's first-week jail life going? Binance CZ might face criminal charges. Canada, Australia, and France tighten crypto regulations. Amber Group completed a $300M Series-C round

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. “Our auditors were learning on the job,” he described, adding that it’s “not a good thing.”

When asked about why FTX failed,&nbsp;O’Leary channeled all the blame on CZ Binance, claiming that the Binance exchange is unregulated.

Mr. Gullible is portraying SBF and FTX of being victims. On the contrary, FTX/Alameda Research operated their companies poorly and committed fraud.

The former billionaire’s epic flameout and the subsequent US regulatory blitz have left his empire and image in shambles.

The attorneys representing SBF have reportedly submitted another bail application days after the initial attempt was turned down.

Lawyers representing FTX are asking for approval from the US bankruptcy court for Delaware to sell four of its still-solvent businesses before they lose value.

CryptoQuant has scrutinised Binance’s reserves on-chain and concluded that they are not showing ‘FTX-like behaviour at this point.’