FTX Founder Faces New Bribery Charge

FTX Founder Faces New Bribery Charge

U.S. prosecutors have added a bribery charge to the 12 other charges against FTX founder Sam Bankman-Fried.

🔎 The Deets

  • Bribery charge added to existing charges
  • Attempted to bribe a Chinese government official
  • Total of 13 charges against Bankman-Fried
  • Pre-trial conference on March 30

The Details

Sam Bankman-Fried, the founder of FTX, is facing a new bribery charge in addition to the 12 other charges he was already facing, including fraud, conspiracy, and trying to evade U.S. campaign laws.

Bankman-Fried was arrested last year and released on bond. The specific terms of his release are still under discussion by both prosecutors and his defense team.

According to a superseding indictment shared Wednesday, Bankman-Fried is accused of attempting to bribe a Chinese government official. The indictment now contains 13 total charges against him, with five yet to be arraigned.

A pre-trial conference has been set for 11 a.m. ET on March 30.

❗Why It Matters

The charges against Sam Bankman-Fried, the founder of major cryptocurrency exchange FTX, highlight the growing scrutiny and legal challenges faced by key players in the crypto and NFT ecosystems.

As governments and regulators around the world attempt to understand and regulate the rapidly evolving blockchain and NFT spaces, high-profile legal cases like this one serve as a reminder of the potential risks and pitfalls for those operating in bad faith in these industries.

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