Chinese Foreign Ministry Spokesperson Unaware of SBF’s Alleged Bribery to Chinese Officials
In a developing story, Chinese Foreign Ministry spokesman Mao Ning was asked at a regular press conference about reports that bankrupt FTX exchange co-founder Sam Bankman-Fried (SBF) had paid $40 million in bribes to Chinese officials. The Global Times reported that Mao Ning replied, “I don’t know if it is a situation.”
The allegations come after US federal prosecutors filed a further indictment against SBF on Wednesday, accusing him of paying $40 million in bribes to Chinese officials and attempting to unlock its frozen hedge fund accounts.
The news has shocked the financial world, as FTX is a major player in the cryptocurrency market. It is unclear at this stage what impact, if any, this will have on FTX’s operations, but it is likely to be closely watched by investors.
In addition to these allegations, it has been reported that an FTX bankruptcy judge has authorized the sale of $45 million of FTX assets held in Sequoia Capital funds to Abu Dhabi’s investment arm, the Abu Dhabi Sovereign Wealth Fund. This move suggests that FTX is trying to raise funds to pay off creditors and settle its debts.
The news of the alleged bribery and the sale of FTX assets comes after the company filed for bankruptcy in November 2022. At the time, SBF stated that the bankruptcy was due to a combination of factors, including the collapse of the cryptocurrency market and a large number of margin calls.
The developments in the FTX saga are likely to have far-reaching consequences, both for the company and for the wider cryptocurrency market. As the story unfolds, it will be interesting to see how it develops and what impact it has on the future of FTX and the wider financial world.
Read more:
- Sam Bankman-Fried Ordered To Return Political Donations Under Federal Asset Forfeiture Laws
- Sam Bankman-Fried’s Legal Team Requests Trial Delay Due To Pending Evidence
- Sam Bankman-Fried Allegedly Transferred Over $40 Million Of Crypto To Benefit Chinese Government