According to a source, Sam Bankman-Fried will be extradited to the US as soon as Monday.

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The blue suit was worn by Sam Bankman- Fried.

AFP via Getty Images

Several outlets reported over the weekend that Bankman-Fried would be dropping his opposition to the handover on Monday.

His empire went up in flames last month after revelations about unsound and potentially illegal activity at the two firms.

Bankman-Fried told Forbes that it was not time to think about any legal ramifications.

Mark Cohen, Bankman- Fried's New York-based lawyer, did not respond to Forbes' request for comment.

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Bankman-Fried is facing eight criminal charges in the U.S., including conspiracy to commit money laundered and to commit wire, securities and commodities fraud, as well as conspiracy to violate U.S. campaign finance laws for using FTX customer money to fund his tens of millions of Bankman-Fried resigned as FTX CEO and the company filed for bankruptcy on November 11 due to the collapse of the exchange's token, which has little inherent value beyond a vote of confidence in the exchange.

What We Don’t Know

Bankman- Fried will have a plea hearing and trial. Any legal proceedings involving Bankman-Fried will attract a lot of attention, and they compare to those of the architect of the largest Ponzi scheme ever who died in prison last year.

Reports say that Sam Bankman- Fried won't fight the extradition effort.

Sam Bankman- Fried was denied bail and jailed.

Sam Bankman- Fried has been charged with eight criminal counts, including wire fraud and campaign finance violations.

The full testimony Bankman- Fried is going to give to congress is exclusive.