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In this photo taken with a drone, the FTX logo is seen on the roof of the FTX Arena on Wednesday, Dec. 7, 2022, in Miami. The House Financial Services Committee holds a hearing on Tuesday on the collapse of cryptocurrency exchange FTX. (AP Photo/Rebecca Blackwell)

Miami-Dade wins right to strip FTX name off Heat arena

Cryptocurrency entrepreneur Sam Bankman-Fried leaves Manhattan federal court on bail in New York City on Thursday, December 22, 2022. Bankman-Fried is accused of swindling investors and looting customer deposits on his FTX trading platform. (AP Photo/Ted Shaffrey)

The lesson of the FTX saga? Crypto needs to grow up

FTX founder Sam Bankman-Fried, is escorted from the Magistrate Court in Nassau, Bahamas, Wednesday, Dec. 21, 2022, after agreeing to be extradited to the U.S. (AP Photo/Rebecca Blackwell)

FTX founder Bankman-Fried allowed $250M bond, house arrest

FTX founder Sam Bankman-Fried, center, is escorted from a Corrections Department van as he arrives at the Magistrate Court building for a hearing, in Nassau, Bahamas, Wednesday, Dec. 21, 2022.(AP Photo/Rebecca Blackwell)

Associates of FTX founder Sam Bankman-Fried plead guilty to criminal charges

FTX founder Sam Bankman-Fried, second right, is escorted out of Magistrate Court toward a Corrections van, following a hearing in Nassau, Bahamas, Monday, Dec. 19, 2022. (AP Photo/Rebecca Blackwell)

FTX founder agrees to extradition, expected to fly to U.S.

A fence topped with barbed wire surrounds the Magistrate Court building, where FTX founder Sam Bankman-Fried was expected to appear later in the morning for an extradition hearing, in Nassau, Bahamas, early on Monday, Dec. 19, 2022.(AP Photo/Rebecca Blackwell)

FTX founder’s hearing adjourned at request of his lawyer

FTX founder Sam Bankman-Fried, center left, is escorted out of Magistrate Court into a Corrections van, following a hearing in Nassau, Bahamas, Monday, Dec. 19, 2022. (AP Photo/Rebecca Blackwell)

FTX founder agrees to extradition to U.S., attorney says

Actor Ben McKenzie testifies during a Senate Banking Committee hearing on cryptocurrency and the collapse of the FTX crypto exchange and its founder Sam Bankman-Fried, at the Capitol in Washington, Wednesday, Dec. 14, 2022. (AP Photo/J. Scott Applewhite)

Former teen idol Ben McKenzie calls crypto ‘largest Ponzi scheme in history’ during Senate testimony

Crypto exchange FTX CEO John Ray, arrives to testify before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)

FTX collapse called ‘old-fashioned embezzlement’ as Bankman-Fried slapped with federal charges

The FTX Arena name is still visible where the Miami Heat basketball team plays Saturday, Nov. 12, 2022, in Miami. Lawyers for FTX disclosed Tuesday that a “substantial amount" of assets have been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. (AP Photo/Marta Lavandier, File)

FTX lawyer: ‘Substantial amount’ of assets has been stolen

The FTX logo appears on home plate umpire Jansen Visconti's jacket at a baseball game with the Minnesota Twins on Tuesday, Sept. 27, 2022, in Minneapolis. (AP Photo/Bruce Kluckhohn, File)

Bankrupt exchange FTX owes top creditors more than $3 billion

Signage for the FTX Arena, where the Miami Heat basketball team plays, is illuminated on Saturday, Nov. 12, 2022, in Miami. The rapid collapse of cryptocurrency exchange FTX into bankruptcy last week has also shaken the world of philanthropy, due to the donations and influence of FTX founder Sam Bankman-Fried in the “effective altruism” movement. (AP Photo/Marta Lavandier, File)

Sam Bankman-Fried’s downfall sends shockwaves through crypto

FILE - The FTX logo appears on a home plate umpire's jacket at a baseball game with the Minnesota Twins on Sept. 27, 2022, in Minneapolis. Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday, Nov. 11, 2022. (AP Photo/Bruce Kluckhohn, File)

Funds vanish at bankrupt crypto exchange FTX; probe underway

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NEW YORK (AP) — Two of Sam Bankman-Fried's top associates secretly pleaded guilty to criminal charges in the collapse of the cryptocurrency exchange FTX and are cooperating with investigators, a federal prosecutor announced Wednesday as the digital coin entrepreneur was being flown in FBI custody to the U.S. from the Bahamas.

Associates of FTX founder Sam Bankman-Fried plead guilty to criminal charges →

On Nov. 11, with his firm now run by a bankrupt CEO, FTX told the trading commission that Mr. Bankman-Fried’s grand plan to become the new father of cryptocurrency was dead.

Bankman-Fried's PAC dressed up political money as pandemic savior →

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