Sam Bankman-Fried reportedly to surrender to U.S. extradition process

CNBC Television published this video item, entitled “Sam Bankman-Fried reportedly to surrender to U.S. extradition process” – below is their description.

CNBC’s Kate Rooney joins ‘TechCheck’ with the latest updates in the Sam Bankman-Fried case, detailing how U.S. extradition process could speed up the process, as well as providing updates on the latest Binance deal to buy Voyager.

CNBC Television YouTube Channel

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About This Source - CNBC Television

CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.

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In This Story: Binance

Binance is a cryptocurrency exchange which is currently the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

The company has launched various cryptocurrencies: Binance Coin (BNB), launched June 2017, and Binance Smart Chain (BSC), launched September 2020. Binance Smart Chain operates using “Proof of Staked Authority”, a combination of proof of stake and proof of authority.

Binance is currently under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. The UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.

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In This Story: Kate Rooney

Kate Rooney is a technology reporter based out of CNBC’s San Francisco bureau, with a focus on financial technology, payments and venture capital.

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