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Less than a day back, FTX founder Sam Bankman-Fried was charged for bribing a Chinese official. In a new indictment, the U.S. Department of Justice alleged that he paid $40 million as a bribe. In fact, the indictment claimed that accounts belonging to Alameda Research were the target of a freezing order from Chinese police “in or around” November last year. Retrospectively, the bribe was paid to unfreeze the accounts. The latest development only adds to the piling charges against the FTX founder. According to Bloomberg News’ Annabelle Droulers, “He’s now facing 13 criminal counts and faces more than a century behind bars if convicted.” Sam Bankman-Fried already was facing more than a century behind bars if convicted of all the charges outlined against him. The addition of a charge that he bribed Chinese officials once again raises the stakes. More here: https://t.co/dtj8KddWcR pic.twitter.com/b4RPPApMha — Bloomberg Crypto (@crypto) March 29, 2023 Also Read: FTX ’s Gary...

The cryptocurrency industry along with the entire globe witnessed the downfall of the FTX empire and its founder Sam Bankman-Fried. Currently, under house arrest, the court requires the former CEO to abide by certain rules. Contesting the same, SBF’s attorneys made a new plea to the Judge. According to a recent court filing, the former FTX CEO intends to “resolve the outstanding issues” associated with his bail conditions. Elaborating on the same, SBF’s counsel, Mark Cohen wrote, “The parties would like to continue these discussions, which we are optimistic will lead to an agreement between the parties in the next few days and eliminate the need for further litigation.” Earlier this week, U.S. District Court Judge Lewis Kaplan altered SBF ’s bail requisites. The Judge banned the troubled CEO from contacting former or current employees of both FTX and Alameda. He was forbidden from employing Signal and other messaging applications to do so. ...