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International Business Times
International Business Times
Business
Marvie Basilan

US Seeks Recovery Of Millions In Crypto Linked To SBF's Alleged Chinese Officials Bribe

Crypto SBF FTX Sam Bankman-Fried United States Alameda Binance Changpeng CZ Zhao
The US wants to recover over $17 million in cryptocurrencies linked to Sam Bankman-Fried's alleged bribery of Chinese officials to unfreeze Alameda funds held in Chinese exchanges in 2021. (Credit: AFP)

KEY POINTS

  • SBF allegedly directed Alameda to transfer some $40 million in USDT as part of the 'initial' bribe to Chinese officials
  • The bribe was allegedly sent in as part of SBF's efforts to get China to unfreeze some $1 billion in crypto on Chinese exchanges
  • FTX's collapse continues to affect the crypto space as the estate works to recover more assets for its customer repayment plan

The United States has moved to recover over $17 million worth of cryptocurrencies based on current prices that are linked to former FTX CEO Sam Bankman-Fried that he allegedly used to bribe Chinese officials in November 2021.

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