FTX founder Sam Bankman-Fried tried to bribe Chinese officials with $40 million, prosecutors say

New developments, the founder of crypto exchange FTX is facing new charges as federal authorities say he tried to bribe Chinese officials. According to the Associated Press, the case involves Alameda Research, a cryptocurrency trading firm also founded by Sam Bankman-Freed. After China seized one billion dollars in assets, authorities say Bankman-Freed tried to direct 40 million dollars in bribes to Chinese officials to free up the funds. The FTX founder already is facing charges of cheating investors out of billions of dollars after his crypto firm collapsed.

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