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Sam Bankman-Fried seeks to reverse decision on contesting extradition: Report

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Sam Bankman-Fried seeks to reverse decision on contesting extradition: Report

Bankman-Fried Singapore

Sam Bankman-Fried Seeks to Reverse Decision on Contesting Extradition: Report

Cryptocurrency entrepreneur Sam Bankman-Fried has reportedly filed an appeal challenging the decision by a federal judge that he be extradited to face charges in the United States.

Background

Bankman-Fried is the founder and CEO of FTX, a crypto derivatives exchange, as well as other companies in the cryptocurrency space. In April 2021, Bankman-Fried was arrested in Singapore, where he was living, and a US federal judge authorized the US government to extradite him to face charges in the US.

Filing for Appeal

According to a report by The Block, Bankman-Fried has sought to reverse the extradition decision by filing an appeal in the Singapore court system. Bankman-Fried has reportedly argued that the judge’s decision was incorrect because Singapore only allows an extradition process if a crime in question is punishable by both Singapore and the other country. According to Bankman-Fried, the charges he faces are not crimes in Singapore and are not punishable by both countries.

Support from Crypto Community

Bankman-Fried’s case has been widely supported by the crypto community as a number of prominent members have come forward to support him. They have raised over $20 million in donations to help him fight the extradition proceedings. Plus, Twitter CEO Jack Dorsey has also thrown his weight behind Bankman-Fried, creating a donation page to support him.

Lawyers’ Take

According to the lawyers, while Bankman-Fried’s extradition could take months, the appeal could potentially buy him more time. They suggest that the court may take into consideration the fact that the offenses he is charged with are not crimes in Singapore.

What Comes Next?

It remains to be seen whether Bankman-Fried will be successful in his appeal. The Singapore court is expected to issue a ruling on the appeal in the coming months.

In Conclusion

Sam Bankman-Fried, the founder and CEO of FTX, has reportedly filed an appeal against the decision of a US federal judge to extradite him to face charges in the US. A number of prominent members of the crypto community have come forward to support him, raising over $20 million in donations. The Singapore court is expected to issue a ruling on the appeal in the coming months.

Sam Bankman-Fried, the 31-year-old billionaire CEO of cryptocurrency exchange FTX, is reportedly looking to reverse a decision to contest his extradition to the United States.

According to a May 27 report by The New York Times, Bankman-Fried will formally request an appeal to reverse a court ruling ordering his extradition to the United States. The order came in March this year, when a Canadian judge granted the U.S. Department of Justice’s demand that Bankman-Fried be extradited to face fraud and tax evasion charges.

The lawyer representing the tech mogul, Richard Wolson, stated that the defense is seeking to overturn the Justice Department’s decision by citing Bankman-Fried’s human rights. Specifically, arguing that the mogul is at risk of being enslaved or subjected to cruel or unusual punishment if he is extradited.

Wolson indicated that the defense is also preparing to dispute the nature of the extradition request itself. He noted that the U.S. government is so far refusing to state that Bankman-Fried’s actions violate Canadian laws, a key factor in determining a successful extradition request.

Bankman-Fried was born in Canada, but is now a U.S. citizen residing in Singapore. He is an outspoken advocate of cryptocurrencies and has built a reputation as one of the most influential execs in the crypto space.

This story is set to have a significant impact on the crypto industry, as Bankman-Fried’s decision could determine how extradition requests are handled for U.S. entrepreneurs working outside the country in the future. It is unclear how quickly the appeal will be processed, but it is sure to be a major topic of discussion in the crypto sphere.

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