FTX's Bankman-Fried Bribed Chinese Official With $40M
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The founder of the now-bankrupt crypto exchange FTX, Sam Bankman-Fried, paid a $40 million bribe to Chinese officials to unfreeze Alameda Research's accounts with over $1 billion worth of crypto, Reuters reports.

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The new indictment against the disgraced crypto entrepreneur states he authorized a $40 million worth of crypto transaction to a private wallet from Alameda's trading account.

It's unclear for whom the transaction was made, but the US prosecutors claim Alameda's accounts had been frozen as part of an investigation into an unnamed counterparty. Later, Bankman-Fried authorized another multi-million order to "complete" the bribe, the government says.

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Besides the latest indictment, Bankman-Fried is also facing a 13-count indictment over FTX's collapse. If convicted on all counts against him, Bankman-Fried might face up to 115 years in prison.

FTX, Alameda Research and more than 130 other affiliates filed for bankruptcy protection in November last year. The collapsed exchange is believed to have more than a million creditors, owing them more than $3 billion.

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