FTX's Bankman-Fried Denies Bribing Chinese Official
Main page News, Cryptocurrency Exchanges, FTX

Former FTX head, Sam Bankman-Fried, pleaded not guilty in Manhattan federal court to new charges of bribing a Chinese official to unfreeze $1 billion worth of crypto, Reuters reports.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Bankman-Fried's lawyer, Mark Cohen, said he's client is planning to challenge the new charges without going into details. The FTX Founder also pleaded not guilty to eight counts of fraud for allegedly stealing billions in customer funds through his hedge fund Alameda Research.

Genesis Execs Had Private Access to FTX Tokens: FT

The US prosecutors claim Bankman-Fried authorized a $40 million worth of crypto transaction to a private wallet from Alameda's trading account way before FTX went bankrupt. It's unclear for whom the transaction was made. Later, Bankman-Fried authorized another multi-million order to "complete" the bribe, the government says.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error