FTX Founder Accused of Chinese bribe Accusations have been made against Sam Bankman-Fried, the founder of the nowdefunct cryptocurrency company FTX, for allegedly offering a bribe to at least one Chinese official. The US authorities unveiled the latest charges, claiming that the entrepreneur authorized a bribe of “at least $40m” to regain access to trading accounts that were frozen by Chinese regulators. These allegations add to the fraud case brought against Bankman-Fried last year after the collapse of FTX. Although he pleaded not guilty to the previous charges, he is currently under house arrest at his parents’ residence in California while waiting for his trial. As per the updated indictment, Mr. Bankman-Fried endorsed the bribe after Chinese authorities froze accounts owned by his trading company, Alameda Research, holding approximately $1bn worth of cryptocurrency. The accounts were released after the transfer, which went to a private cryptocurrency wallet, according to the filing. The alleged bribe followed several months of other attempts to access the funds, which Bankman-Fried thought were frozen as part of an investigation into another trading company. This incident occurred before FTX’s bankruptcy last year, when reports about the firm’s finances led to a surge of withdrawals, ultimately causing the company’s downfall. THE MONTHLY ROUND-UP Photo: Wikicommons - Cointelegraph
RkJQdWJsaXNoZXIy Mjk3Mzkz