The boss of FTX has agreed to be extradited to the US to face charges.
One of the biggest financial frauds in US history has been accused of being committed by a 30-year-old who lives in the Bahamas.
A source close to Mr Bankman- Fried said he would be extradited.
Many people can't withdraw funds because FTX has filed for Chapter 11.
According to a court filing, FTX had over $3 billion in debts.
It is not known when Mr Bankman- Fried will be extradited to the US.
He is accused of using billions of dollars of customer funds to prop up his company.
The US Attorney for the Southern District of New York said last week that Mr Bankman- Fried was accused of being one of the largest frauds in US history.
The FTX founder was accused of using tens of millions of dollars in ill-gotten gains for illegal campaign contributions to Democrats and Republicans.
According to the Securities and Exchange Commission, the man who was formerly dubbed the "King OfCrypto" had built a "house of cards on a foundation of deception".
Mr Bankman-Fried denied in an interview before his arrest that he had committed fraud. I believe I did not commit fraud. I did not want this to happen. I wasn't as good as I thought I was.
Mr Bankman- Fried denied that he was aware that FTX customer funds were being used.
Customers were able to trade normal money for Cryptocurrencies on the FTX exchange.
Cryptocurrencies are online and can be used as investment vehicles or securities, with high degree of volatility.
FTX had an estimated 1.2 million users who used the exchange, but many are wondering if they will ever be able to get their money back.
Mr Bankman-Fried was once viewed as a young version of legendary US investor Warren Buffet, and as recently as October had a net worth estimated at more than 15 billion dollars.
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