Additional Charges Against Sam Bankman-Fried Dismissed, Further Clearing His Legal Troubles

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Additional Charges Against Sam Bankman-Fried Dismissed, Further Clearing His Legal Troubles

2023/09/10 Report

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Additional charges have been dropped against cryptocurrency entrepreneur Sam Bankman-Fried. Bankman-Fried, the founder of crypto trading firm FTX, was previously charged with market manipulation and failure to register as a futures commission merchant. Now, the US Commodity Futures Trading Commission (CFTC) has dropped two of the charges against him.

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The CFTC brought the charges against Bankman-Fried in connection with alleged illegal activities by his former employer, crypto derivatives exchange BitMEX. Bankman-Fried has agreed to pay a $10 million fine as part of a settlement with the CFTC.

The remaining charges against him still stand.

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