Sam Bankman-Fried faces multiple federal charges and legal headaches.

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, has pleaded not guilty to charges of paying a $40 million bribe to Chinese officials to unlock frozen bank accounts containing $1 billion in cryptocurrency. Bankman-Fried had previously pleaded not guilty to eight counts of fraud and conspiracy. He will remain out of jail on a $250 million bond but will be subject to strict bail conditions. If convicted, he faces the rest of his life in prison.