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NEW YORK CITY: Sam Bankman-Fried, once the most respected face of cryptocurrency, goes on trial on Tuesday in federal court facing seven counts of fraud that could see him spend decades in prison.
FTX founder Sam Bankman-Fried paid a bribe of USD 40 million to a Chinese government official to get access to those accounts which are allegedly frozen by Beijing, a federal prosecutor alleged on Tuesday, according to New York Post reported.
The founder of collapsed crypto exchange FTX, Sam Bankman-Fried pleaded guilty on Tuesday to wire fraud and securities fraud charges over the collapse of his trading platform, The Hill reported.
A blog on AEX website informs about the suspension of services by the exchange, with effect from July 17.