This week, US prosecutors revealed a new indictment against former FTX CEO Sam Bankman-Fried.

The indictment accuses SBF of conspiring to bribe the Chinese government with $40 million worth of payments.

Federal prosecutors say they charged SBF with directing the $40M payment in order to unfreeze accounts belonging to his hedge fund, Alameda Research, which had been frozen by Chinese authorities.

The accounts he wanted to unfreeze held more than $1B in cryptocurrency.

The accounts were unfrozen after the bribe payment was transferred in November 2021, and then an additional transfer of tens of millions of dollars was sent to complete the bribe.

Bankman-Fried is already facing eight counts over the collapse of now-defunct crypto exchange FTX, to which he has pleaded not guilty.