Bloomberg recently reported that FTX founder, Sam Bankman-Fried, is expected to be extradited to the United States. The former CEO of the platform had previously contested extradition but is now reversing that decision.

Bankman-Fried has already been indicted on eight charges by United States’ prosecution. Moreover, facing charges of fraud and conspiratorial actions, he was expected to be extradited as early as Monday.

The Sam Bankman-Fried saga has been one of the most interesting and tragic tales in the youthful cryptocurrency industry. A former wunderkind, Bankman-Fried had built up one of the most prominent cryptocurrency exchange platforms in the world. Ultimately, it crumbled under the uncovering of a multi-year fraud scheme implemented by the 30-year-old.

Following an indictment by the US prosecution, Bankman-Fried was brought into custody by Bahamian officials last week. Bankman-Fried is currently detained at the notorious Fox Hill Prison and was predicted to remain there after he resisted extradition to the US.

That contestment is now being reversed, according to the new report by Bloomberg. Bloomberg has also noted that Bankman-Fried is expected to disclose that he won’t fight extradition in a court appearance in Nassau.

Following reports of Bankman-Fried’s fraudulent activity within FTX, just before his arrest, the former CEO went on a press tour declaring his innocence. He was proclaiming his ignorance as the premier evidence of his non-compliance in criminality that occurred at the exchange. Those interviews peaked into the very public arrest last week and the profuse charges filed in just one month of reports.