FTX founder now facing bribery charges | WORLD
Facebook Instagram Twitter
Logo
Sound journalism, grounded in facts and Biblical truth | Donate
The Sift
Business & Economy
by Josh Schumacher
Post Date:
March 28, 2023

FTX founder now facing bribery charges

Federal prosecutors on Tuesday charged Sam Bankman-Fried, founder of the cryptocurrency exchange FTX, with bribing one or more Chinese officials with $40 million. The rewritten indictment alleges Bankman-Fried, also known as SBF,  paid the bribe to unfreeze $1 billion in assets Chinese authorities had frozen during an investigation.

What does this mean for SBF? He now faces 13 charges and has a new hearing scheduled for Thursday. SBF is currently out of jail on a $250 million property/personal recognizance bond and living with his parents in Palo Alto. FTX filed for bankruptcy in November.

Dig deeper: Read Janie B. Cheaney’s column in WORLD Magazine about an idealistic movement that ignores our fallen nature.

Josh Schumacher
Josh Schumacher

Josh is a breaking news reporter for WORLD. He’s a graduate of World Journalism Institute and Patrick Henry College.

An actual newsletter worth subscribing to instead of just a collection of links. —Adam

Sign up to receive The Sift email newsletter each weekday morning for the latest headlines from WORLD’s breaking news team.
COMMENT BELOW

Please wait while we load the latest comments...

Comments