Sam Bankman-Fried, the former boss of the bankrupt cryptocurrency exchange FTX, has agreed to be extradited from the Bahamas to the US to face charges.

US authorities have accused Mr Bankman-Fried of committing "one of the biggest financial frauds in US history".

FTX has filed for bankruptcy, leaving many people unable to withdraw funds.

The 30-year-old, who denies the allegations, has agreed to the extradition, according to an affidavit his defence lawyer read in court.

The affidavit, signed by Mr Bankman-Fried on 20 December, says he is agreeing to be extradited partly out of a "desire to make the relevant customers whole" - in other words, to try to help people get back some of their money.

According to a court filing, FTX owed its 50 largest creditors a total of almost $3.1bn (£2.5bn).

Mr Bankman-Fried was arrested on 12 December and the date of his extradition is unclear.

Last week, the US Attorney for the Southern District of New York said Mr Bankman-Fried used "tens of millions" in ill-gotten gains for illegal campaign contributions to Democrats and Republicans.

The Securities and Exchange Commission said the man formerly nicknamed the "King Of Crypto" had built a "house of cards on a foundation of deception".

However, Mr Bankman-Fried has sought to distance himself from accusations of illegal activity.

In a BBC News interview before his arrest, he said: "I didn't knowingly commit fraud. I don't think I committed fraud. I didn't want any of this to happen. I was certainly not nearly as competent as I thought I was."

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