Prosecutors Drop Campaign Finance Charge Against FTX Co-Founder Sam Bankman-Fried

Federal prosecutors have dropped a campaign finance charge against Sam Bankman-Fried, the co-founder of FTX, for allegedly conspiring to make unlawful campaign contributions. This is the second charge dropped against him, following the violation of anti-bribery statutes. The government failed to obtain permission from the Bahamas, where Bankman-Fried was extradited from, for these charges. The moves narrow the criminal exposure of Bankman-Fried, who is accused of defrauding investors and customers, leading to the collapse of FTX. Former FTX executives have pleaded guilty to federal charges and are cooperating with the prosecution. Bankman-Fried is expected to face trial later this year.