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Asia Express: Binance clarifies account freeze amid SBF's alleged Chinese bribe

Asia Express: Binance clarifies account freeze amid SBF’s alleged Chinese bribe

– Caroline Ellison, co-founder of Alameda Research, testified that FTX founder Sam Bankman-Fried allegedly paid $150 million in bribes to Chinese government officials in 2021, higher than the initial disclosure of $40 million.

– Ellison also revealed that $1 billion worth of Alameda Research’s digital assets on crypto exchanges OKX and Huobi were frozen by Chinese law enforcement in a money-laundering investigation.

– Binance co-founder Yi He clarified that only accounts of users suspected of violating international sanctions will be frozen on the exchange, following inquiries about the freezing of accounts of suspected Hamas militants.

– A second Chinese court ruled that crypto lending contracts in China are not protected by law because the underlying asset is illegal.

– The hacker who stole 5,000 Ether from Huobi’s hot wallet returned all the funds, and Huobi paid a white hat bonus of 250 ETH to the hacker.

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