FTX Founder Sam Bankman-Fried Indicted for Alleged $40M Bribe to Chinese Officials.

Sam Bankman-Fried, co-founder of FTX and Alameda Research, allegedly paid over $40 million in cryptocurrency as a bribe to at least one Chinese government official to unfreeze accounts belonging to his hedge fund, according to a new indictment by federal prosecutors. The frozen accounts contained around $1 billion worth of cryptocurrency, which Bankman-Fried's hedge fund used to continue funding Alameda's loss-generating trades. Bankman-Fried now faces federal indictment and civil charges from both the SEC and CFTC.