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Founder of FTX Cryptocurrency Exchange Pleads Not Guilty to Bribery and Campaign Finance Charges

The founder of FTX, a bankrupt cryptocurrency exchange, has pleaded not guilty to 13 charges, including conspiring to violate campaign finance laws and bribing Chinese authorities.

Sam Bankman-Fried, who previously denied eight fraud charges, will face trial in New York in October.

In addition to the fraud allegations, Bankman-Fried was charged with making illegal political donations in February.

He is accused of attempting to bribe Chinese officials with cryptocurrencies worth around $40 million to unfreeze certain Alameda Research accounts.

Bankman-Fried’s lawyer plans to contest the new allegations as they were brought after his extradition from the Bahamas. Bankman-Fried was arrested in December 2022 and later released on $250 million bail.

Despite his denial, former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to fraud, while FTX CTO Nishad Singh pleaded guilty to money laundering through political campaign financing in February.