FTX Bribery Kept Crypto Going in China

In defiance of China’s cryptocurrency ban, FTX Trading facilitated money laundering and bribery of Chinese officials, as per US court documents. The now-defunct FTX, along with related entities, filed for bankruptcy amidst fraud allegations, with former CEO Samuel Bankman-Fried sentenced to 25 years in prison. A network of Chinese nationals allegedly used FTX for money laundering, with defendants like Shen Ling depositing billions of dollars in criminal proceeds, leading to legal action to recover funds and prevent claims.

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