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☆ A timeline of 5 major hurdles Russia's imposed on Western firms trying to exit the country
▼ + stars: | 2023-09-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

The Russian foreign ministry did not immediately respond to a request for comment from Insider sent outside regular business hours. Some companies trying to exit Russia recently are facing demands of even steeper discounts, Reuters reported on August 25, citing three persons familiar with exit processes for foreign companies. Both firms had been trying to exit Russia for months before the seizures, before the sudden takeover. In July, Moscow targeted the Russian assets of food and beverage giants Danone and Carlsberg for seizures. A month later, in September, Russia demanded foreign banks unfreeze Russian assets if they wanted to exit the market.

Persons: Linklaters, —, Vladimir Putin's, Germany's, Fortum —, Putin, Dmitry Peskov, Alexei Moiseev Organizations: Service, Yale University, Russia, Russian, Novaya Gazeta, Companies, Kremlin, Investors, Danone, Carlsberg, Financial Times, UBS, Credit Suisse —, Zenit Bank, Reuters, Raiffeisen Locations: Russia, Wall, Silicon, Ukraine, London, Russian, Moscow

☆ Russia says it will not let foreign banks exit the market easily — unless they unfreeze Russian assets
▼ + stars: | 2023-09-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia's deputy finance minister said the country will not let foreign banks exit the market easily, per Reuters. Russia's decision to allow the banks to leave will "depend on the decision to unfreeze Russian assets," he said. It is not clear how many of these Russian assets were frozen by Western banks. AdvertisementAdvertisementMoiseev said at the Friday forum that there's one foreign bank applying to sell its assets in Russia, per Reuters. That jumped to nearly $10 billion at the end of March 2023, per the FT.AdvertisementAdvertisementRussia's finance ministry, Kyiv School of Economics, Bank of China, Industrial & Commercial Bank of China, China Construction Bank, and Agricultural Bank of China did not immediately respond to requests from Insider for comment.

Persons: Alexei Moiseev, Vladimir Putin's, it's, —, Moiseev, Raiffeisen Organizations: Reuters, Service, Yale University, Raiffeisen, Kyiv School of Economics, Bank of China, Industrial, Commercial Bank of, China Construction Bank, Agricultural Bank of, Financial Times, Agricultural Bank of China Locations: Russia, Wall, Silicon, Russian, Ukraine, Moscow, Commercial Bank of China, China, Agricultural Bank of China

☆ Russia says it won't let foreign banks leave easily
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

Russian Deputy Finance Minister Alexei Moiseev attends a session of the annual international military-technical forum "ARMY" at Patriot Expocentre in Moscow Region, Russia August 22, 2018. REUTERS/Maxim Shemetov/File photo Acquire Licensing RightsMOSCOW, Sept 1 (Reuters) - Russian Deputy Finance Minister Alexei Moiseev said on Friday that the government would not allow foreign banks to leave Russia easily. "We have stated our position and it stands - we will be tough in letting foreign banks go, it will depend on the decision to unfreeze Russian assets," Moiseev said, speaking at a forum. Responding to questions about applications to sell assets, Moiseev said Austria's Raiffeisen Bank (RBIV.VI) had not made such a request. "I am aware of one foreign bank's application to sell assets ... which is under consideration by the government commission," he said.

Persons: Alexei Moiseev, Maxim, Moiseev, Austria's, Elena Fabrichnaya, Felix Light, Bobrova, Hugh Lawson, Kevin Liffey Organizations: REUTERS, Rights, Austria's Raiffeisen Bank, Thomson Locations: Moscow Region, Russia, Ukraine, Western, Russian

☆ Instacart files to go public on Nasdaq to try and unfreeze tech IPO market
▼ + stars: | 2023-08-25 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Instacart, the grocery delivery company that slashed its valuation during last year's market slide, filed its paperwork to go public on Friday in what's poised to be the first significant venture-backed tech IPO since December 2021. In May, Instacart said it was leaning into the generative AI boom with Ask Instacart, a search tool that aims to answer customers' grocery shopping questions. Instacart will try and crack open the IPO market, which has been mostly closed since late 2021. In March of last year, Instacart slashed its valuation to $24 billion from $39 billion as public stocks sank. Apoorva Mehta, Instacart's founder and executive chairman, plans to transition off the board after the company's public market debut, according to a 2022 release.

Persons: Instacart, Fidji Simo, haven't, Japan's SoftBank, Uber, They've, Simo, Mark Zuckerberg, Apoorva Mehta, Barry McCarthy, Snowflake, Frank Slootman, Andreessen Horowitz's Jeff Jordan, Shipt, Goldman Sachs, Nick Giovanni Organizations: Nasdaq, PepsiCo, Maplebear Inc, Target, Walmart, Meta, Walmart Grocery, Google, Sequoia Capital, DJ Capital Partners, Norges Bank Investment Management, TCV, D1 Capital Partners, Valiant Capital Management Locations: what's

A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. International sanctions against Moscow over its invasion of Ukraine have blocked many Russian investors' access to securities held in jurisdictions outside the country, while Russian countermeasures have frozen Western funds within. "Interested foreign investors would be given the opportunity to buy 'blocked' foreign securities from Russian investors in exchange for funds held in type-C accounts," the central bank said. "The participation of investors (both Russian and foreign) in this process will be voluntary." Finance Minister Anton Siluanov on Tuesday asked President Vladimir Putin to support the plans, starting with the unblocking of about 100 billion roubles ($1.06 billion) in frozen funds belonging to retail investors.

Persons: Shamil Zhumatov, Clearstream, Anton Siluanov, Vladimir Putin, Dmitry Polevoy, Alexander Marrow, Devika Organizations: Central Bank, Bank of, REUTERS, Wednesday, Moscow, Thomson Locations: Russian, Moscow, Russia, Bank of Russia, Ukraine, Europe, Locko

☆ Japan, Iran leaders to meet in Sept in New York - Kyodo
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Aug 20 (Reuters) - Japanese Prime Minister Fumio Kishida and Iranian President Ebrahim Raisi will meet in New York in September to discuss Iran's nuclear programme among other issues, Kyodo news agency said on Sunday, quoting unnamed Iranian diplomatic sources. Iran aims to promote relations with Japan, traditionally a friendly nation, to avoid international isolation as Iran's talks with the United States and Europe over their nuclear deal have stalled, Kyodo said. Kishida and Raisi also met last September when they visited New York for the U.N. General Assembly. Raisi will ask Kishida to visit Iran and seek to unfreeze Iranian assets in Japan, estimated to be worth around $3 billion, that were frozen in line with U.S. sanctions, Kyodo said. The Japanese side is also expected to emphasise safety in the Strait of Hormuz, the main artery for crude oil transportation and the route for most of the crude oil coming to Japan, Kyodo said.

Persons: Fumio Kishida, Ebrahim Raisi, Raisi, Antony Blinken, Kishida, Kyodo, Yuka Obayashi, Edmund Klamann Organizations: Kyodo, General Assembly, Reuters, U.S, Thomson Locations: TOKYO, New York, Iran, Japan, United States, Europe, Washington, Tehran, Russia, Ukraine, South Korea, Strait, Hormuz

☆ US asks Iran to stop selling drones to Russia-FT
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] An image shows Iranian drone transfer to Russia, as evidence of new Russian-Iran cooperation, in this handout acquired June 9, 2023. White House/Handout via REUTERS/File Photo Acquire Licensing RightsAug 16 (Reuters) - U.S. is pushing Iran to stop selling armed drones to Russia as part of discussions on a broader unwritten understanding between Washington and Tehran to de-escalate tensions, the Financial Times said on Wednesday, citing people briefed on the matter. The U.S. is pressing Iran to stop selling armed drones to Russia, which Moscow is using in the war in Ukraine, as well as spare parts for the unmanned aircraft, the report said, citing an Iranian official and another person familiar with the talks. The news comes as Washington and Iran are trying to ease tensions and revive broader talks over Iran's nuclear program. Iran allowed four detained U.S. citizens to move into house arrest from Tehran's Evin prison while a fifth was already under home confinement.

Persons: Antony Blinken, Tehran's, Lavanya, Himani Sarkar, Kim Coghill Organizations: REUTERS, Financial Times, Iranian, U.S, Reuters, Thomson Locations: Russia, Russian, Iran, White, Washington, Tehran, de, U.S, Moscow, Ukraine, South Korea, Bengaluru

WASHINGTON, Aug 15 (Reuters) - US Secretary of State Antony Blinken said on Tuesday he could not confirm a report that Iran slowed its pace of amassing near-weapons-grade enriched uranium but would welcome any Iranian steps to de-escalate its "growing nuclear threat." On Thursday, sources said Iran may free five detained U.S. citizens as part of a deal to unfreeze $6 billion in Iranian funds in South Korea. Iran allowed four detained U.S. citizens to move into house arrest from prison. "Of course, we would welcome any steps that Iran takes to actually deescalate the growing nuclear threat that it has posed since the United States got out of the Iran nuclear deal," Blinken told a news conference, alluding to former U.S. President Donald Trump's 2018 abandonment of that agreement. Blinken emphasized that the agreement included U.S. citizens who have all been designated as wrongfully detained and said Washington would continue to examine other cases.

Persons: Antony Blinken, Blinken, Donald Trump's, Roya Hakakian, Sherry Hakimi, Nazanin Boniadi, Leah Millis, Iran's, I'm, Shahab Dalili, Biden, Dalili, we're, Humeyra Pamuk, Simon Lewis, Arshad Mohammed, Daphne Psaledakis, Josie Kao Organizations: U.S, Union and United Nations, Iranian, U.S . State Department, REUTERS, State Department, Thomson Locations: Iran, U.S, South Korea, United States, American, Iranian, Washington , U.S, Washington

CARACAS, July 21 (Reuters) - Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions. Most of the South American country's gas reserves remain undeveloped after decades of insufficient investment, contract changes and - in recent years - U.S. sanctions to oust President Nicolas Maduro. But new officials running the oil ministry and PDVSA want to encourage new investment and unfreeze projects. Oil major Shell Plc (SHEL.L), which produces in Trinidad, could operate the Dragon gas field in Venezuela if Maduro's government extends it a license, Trinidad officials have said. Venezuela is producing 831,000 barrels of crude per day (bpd) this month and expects to increase to 1 million bpd by year-end.

Persons: Pedro Tellechea, Nicolas Maduro, Tellechea, Spain's, Maurel, Deisy Buitrago, Mayela Armas, Vivian Sequera, Marianna Parraga, Alison Williams Organizations: Eni, Shell, Thomson Locations: CARACAS, Caracas, United States, Trinidad and Tobago, Venezuela, Trinidad, China

☆ US House rebuffs bid by Republican hardliners to end some sanctions
▼ + stars: | 2023-07-18 | by ( David Morgan | ) www.reuters.com time to read: +4 min

WASHINGTON, July 18 (Reuters) - The Republican-controlled U.S. House of Representatives on Tuesday turned back a bid by hardline conservatives to end five presidential emergency declarations that allow for sanctions against America's enemies in the Middle East and Africa. Trump, a hero to Republican hardliners, did use a 2019 national emergency declaration to fund construction of a wall at the U.S.-Mexico border over the opposition of congressional Democrats. "Trump was probably the first president to use the National Emergency Act and national emergency declarations for the express purpose of getting around Congress on a question of long term policy," Goitein said. Both Republicans and Democrats said they agreed with the objective of improving the national emergency system. "While I understand my colleagues' desire to reform the national emergency process, empowering terrorists, corrupt officials and war criminals is not the answer.

Persons: Lauren Boebert, Matt Gaetz, Paul Gosar, Eli Crane, Republican George W, Bush, Barack Obama, Donald Trump's, Biden, Hardliner, Kevin McCarthy, Joe Biden, somebody's, Gosar, Elizabeth Goitein, Trump, Goitein, Mike Lawler, David Morgan, Scott Malone, Lincoln Organizations: Republican, House, Four Republican, Democratic, Republicans, Democrats, Washington, Colorado firebrand, Hardliner Republicans, Freedom Caucus, Brennan Center for Justice, New York University, Trump, Emergency, Thomson Locations: East, Africa, Syria, Yemen, Iraq, Libya, Democratic Republic of Congo, Colorado, Iran, U.S, Mexico

You can enroll in an identity theft protection service so you don't fall victim to theft. There are many companies out there that solely focus on identity protection — you can read our guide to the best identity theft protection services — but you may be able to enroll in an identity theft protection service through your credit card provider. Pros Check mark icon A check mark. Covers up to 10 children under 18 at no extra cost Check mark icon A check mark. With services comparable to some of the best identity theft protection services at a competitive price, this is an appealing option to Discover cardholders.

Persons: Capital One's CreditWise, David McMillin David McMillin, Guy, David, he's Organizations: Social, Federal Trade Commission, Research, Express, American Express, Chase, Credit, Business, Capital, Mastercard, Theft Locations: cardholders, Experian, AnnualCreditReport.com, Chicago, Alaska , Utah , Oklahoma, Vermont

☆ The Best Debit Cards for Kids and Teens
▼ + stars: | 2023-07-02 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +15 min

Banks, credit unions, financial technology companies and even investment firms all offer debit cards geared toward under 18-year-olds. With Greenlight, children receive a physical debit card with their name on it. In addition to its abundance of customizable features, Greenlight also rises above other kids debit cards thanks to the educational tools and games included in its app. This is possible because the Step Visa Card is not technically a debit card, though it functions very similarly. How we pickedTo pick Buy Side from WSJ’s Best Debit Cards for Kids and Teens, we looked at card options available to those under the age of 18, including prepaid debit cards, checking account-linked debit cards, secured credit cards and brokerage account-linked debit cards.

Persons: Kerri Anne Renzulli, they’ve, Banks, we’ve, Greenlight, Chase, it’s, Side’s, —, Equifax, Roth Organizations: Community Federal Savings Bank, Capital, Teens, Chase, Teen, Fidelity, Learning, Kids

WASHINGTON, July 1 (Reuters) - A powerful Republican in the U.S. House of Representatives has asked Secretary of State Antony Blinken for details about an investigation into the security clearance of the U.S. envoy for Iran, amid reports he may have mishandled classified documents. Citing media reports, Michael McCaul, chairman of the Foreign Affairs Committee, wrote to Blinken on Friday, asking why the State Department's special envoy for Iran, Rob Malley, was placed on unpaid leave after his security clearance was suspended earlier this year to investigate the alleged mishandling of classified documents. "Given the gravity of the situation, it is imperative that the Department expeditiously provide a full and transparent accounting of the circumstances surrounding Special Envoy Malley's clearance suspension and investigation and the Department's statements to Congress regarding Special Envoy Malley," McCaul wrote Blinken in a letter posted on the panel's website. On Thursday, Malley told Reuters: "I have been informed that my security clearance is under review. Appointed soon after Democratic President Joe Biden took office in 2021, Malley had the task of trying to revive the 2015 Iran nuclear deal.

Persons: Antony Blinken, Michael McCaul, Blinken, Rob Malley, Malley, McCaul, Joe Biden, Donald Trump's, Iran Abram Paley, Brett McGurk, Valerie Volcovici, Arshad Mohammed, William Mallard Organizations: Republican, U.S . House, U.S, Foreign Affairs, State, State Department, Reuters, Democratic, reimposed, Iranian, National Security, Thomson Locations: U.S, Iran, reimposed U.S, Tehran, United States, East, North, Washington, Saint Paul , Minnesota

☆ Leaked messages show angry employees roasting Microsoft CEO Satya Nadella after he thanked the troops for a 'landmark' fiscal year
▼ + stars: | 2023-06-29 | by ( Ashley Stewart | Julie Bort | ) www.businessinsider.com time to read: +3 min

Microsoft CEO Satya Nadella posted a thank-you note to the troops on Wednesday. In light of all of this, CEO Satya Nadella took to Microsoft's internal message boards on Wednesday to thank the troops, in a message viewed by Insider. But a number of employees reacted to Nadella's thank-you note with salty messages, according to internal posts seen by Insider. Another message, also upvoted by over 100 people, wrote, "Here employees take pay cuts as our company and leadership make record profits. As we previously reported, a recent internal Microsoft poll showed that more Microsoft employees say they would leave if they got another comparable offer.

Persons: Satya Nadella, he's, It's, Ashley Stewart Organizations: Microsoft, Activision

French President Emmanuel Macron held a 90-minute call with Iranian President Ebrahim Raisi on June 10. Thousands of supportive rallies have been held around the world since her death September, although the nationwide unrest has subsided after Iranian security police clamped down on it. ABORTIVE PLOTNunez's letter put the July 1 NCRI rally in the context of the abortive plot led by Vienna-based Iranian diplomat Assadolah Assadi in October 2018 and three others. "Partner countries have in this regard recently mentioned many planned violent attacks, potentially targeting Iranian opposition figures." The letter said there was also an elevated risk of conflict between the NCRI and rival Iranian opposition groups at the rally, although there had been no incidents at past rallies.

Persons: Gonzalo Fuentes, Ban, Emmanuel Macron, Ebrahim Raisi, Laurent Nunez, Shahin Gobadi, Assadolah Assadi, Assadi, Nunez, John Irish, Mark Heinrich Our Organizations: REUTERS, Paris, Reuters, Council of Resistance, People's Mujahideen Organisation of Iran, Foreign Affairs, Thomson Locations: Paris, France, Iran PARIS, Iran, Tehran, Islamic Republic, IRAN, United States, Israel, Vienna, Belgium, Europe, Iranian, Paris , Washington, Saudi, Riyadh

Having failed to revive a 2015 Iran nuclear deal, Washington hopes to restore some limits on Iran to keep it from getting a nuclear weapon that could threaten Israel and trigger a regional arms race. An Iranian official said: "Call it whatever you want, whether a temporary deal, an interim deal, or a mutual understanding - both sides want to prevent further escalation." U.S. Special Envoy for Iran Rob Malley has also met Iran's ambassador to the U.N. after months of Iran refusing direct contact. The Western official said the key U.S. objective was to keep the nuclear situation from worsening and to avoid a potential clash between Israel and Iran. U.S. House Foreign Affairs Committee Chairman Michael McCaul, a Republican, wrote to President Joe Biden on Thursday saying "any arrangement or understanding with Iran, even informal, requires submission to Congress".

Persons: Donald Trump, Matt Miller, Washington, Brett McGurk, Ali Bagheri Kani, Iran Rob Malley, miscalculate, Michael McCaul, Joe Biden, Parisa, John Irish, Arshad Mohammed, Ramu Ayub, Simon Lewis, Daphne Psaledakis, Don Durfee, William Mallard Organizations: U.S . Congress, State Department, U.S . National Security, International Atomic Energy Agency, U.S, . House Foreign, Republican, John, Thomson Locations: DUBAI, PARIS, United States, Iran, Russia, Washington, Israel, Tehran, U.S, de, Ukraine, Oman, Ali Bagheri Kani . U.S, IRAN, ISRAEL, Parisa Hafezi, Dubai, Paris, Saint Paul , Minnesota

☆ Russia floats idea of paying foreign companies selling assets in bonds, not cash
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, April 20 (Reuters) - Russia will work on a proposal to pay foreign companies selling assets in the country with central bank bonds tied to Russian reserves frozen abroad, instead of cash, the central bank said on Thursday, as a way to reduce rouble volatility. The Russian currency slumped to a more than one-year low this month, which traders and analysts blamed in part on foreign firms selling their Russian assets to local buyers, although the central bank has sought to play down the impact of such transactions. The finance ministry has said exit transactions should be carried out within strict limits under central bank control. Such a radical move would face several obstacles, primarily, according to Nabiullina, that linking bonds to frozen assets may need Russia to disclose the structure and location of its reserves. She added that "forcibly imposing" these bonds on companies, or having foreign regulators in other jurisdictions unfreeze Russian assets was unlikely to be possible.

☆ UN predicts Afghan economy would contract if aid drops 30%
▼ + stars: | 2023-04-18 | by ( Charlotte Greenfield | ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Afghanistan's economy will contract, inflation will rise and liquidity will fall if there is a 30% drop in international aid as feared, according to an analysis by the United Nations' development agency released on Tuesday. International officials say aid to Afghanistan, the recipient of the world's largest humanitarian program, will drop sharply this year as donors assess global crises and because of restrictions on female aid workers imposed by the Taliban administration. The United Nations' Development Programme (UNDP) analysed the impact of a 30% drop in aid and found gross domestic product for the already struggling economy would shrink 0.4% this year. "We may find ourselves in a larger drop in aid than 30%," said Al Dardari. Taliban officials have said their decisions on female aid workers are an "internal issue" and that foreign governments should reduce restrictions and unfreeze central bank assets to alleviate the economic crisis.

☆ Sam Bankman-Fried pleads not guilty to new federal charges
▼ + stars: | 2023-03-30 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of fraud and conspiracy, including one count of conspiring to bribe Chinese government officials. An attorney for Bankman-Fried entered the plea on his behalf of his client, who was seated beside him in the New York courtroom Thursday. He previously pleaded not guilty to eight other charges stemming from what prosecutors have described as one of the biggest financial frauds in US history. In the latest indictment, prosecutors alleged that Bankman-Fried sought to pay off Chinese officials to unfreeze accounts belonging to his hedge fund, Alameda Research. Three of Bankman-Fried’s former business partners — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to numerous charges and are cooperating with investigators.

☆ Sam Bankman-Fried pleads not guilty to latest round of federal fraud, bribery charges
▼ + stars: | 2023-03-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried pleaded not guilty in New York federal court Thursday to five additional charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. Bankman-Fried's hedge fund then allegedly used the unfrozen assets to continue to fund Alameda's loss-generating trades, continuing on what the government says was a fraud upon customers and investors for another year. The 13-count indictment gives details of hundreds of political donations that Bankman-Fried allegedly directed in violation of federal campaign finance laws. Bankman-Fried already pleaded not guilty to eight other counts. In addition to this federal indictment, Bankman-Fried also faces civil charges from both the Securities and Exchange Commission and the Commodity Futures Trading Commission.

☆ Morning Bid: Alibaba fires up market mood
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

An unprecedented revamp of Chinese tech conglomerate Alibaba Group, which analysts believe to have the blessings of local regulators, pushed up Alibaba's U.S.-listed stock, and then its Hong Kong shares on Wednesday. Companies in China's internet, private education and property sectors have lost billions of dollars in market value in recent years as the country's regulators cracked down on their operations. Reuters GraphicsAlthough a lacklustre 0.6% rise in Asia's main stock market gauge, led by Hong Kong tech names, shows that animal spirits haven't returned yet, there's hope for investors who have been left licking their wounds from recent market declines, especially in bank and tech stocks. Global investor confidence remains fragile, with the European Central Bank (ECB) saying that recent volatility highlights the need for greater regulatory scrutiny. Overnight, a survey showed that U.S. consumer confidence unexpectedly increased in March despite recent financial market turmoil, but Americans still expect inflation to remain elevated over the next year.

Bankman-Fried is expected to be arraigned on the new indictment on Thursday before U.S. District Judge Lewis Kaplan in Manhattan federal court. The new indictment said Bankman-Fried ordered the $40 million cryptocurrency payment to a private wallet from Alameda's main trading account, to persuade Chinese government authorities to unfreeze Alameda accounts with more than $1 billion of cryptocurrency. Prosecutors said the Alameda accounts had been frozen as part of an investigation into an unnamed Alameda counterparty, and Bankman-Fried's prior efforts to lobby Chinese officials to lift the freeze were unsuccessful. They also said Bankman-Fried around November 2021 authorized a transfer of tens of millions of dollars of additional cryptocurrency to "complete" the bribe. Concerns that Bankman-Fried might tamper with witnesses prompted Kaplan to threaten jailing him unless tighter restrictions could be worked out.

NEW YORK, March 28 (Reuters) - U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of now-bankrupt FTX cryptocurrency exchange of conspiring to pay a $40 million bribe to Chinese government officials. The indictment said Bankman-Fried ordered the $40 million cryptocurrency payment to a private wallet from Alameda's main trading account, to persuade Chinese authorities to unfreeze Alameda accounts with more than $1 billion of cryptocurrency. Prosecutors said the Alameda accounts had been frozen as part of an investigation into an unnamed Alameda counterparty. They also said Bankman-Fried later authorized a transfer of tens of millions of dollars of cryptocurrency to "complete" the bribe. Under the new conditions, Bankman-Fried would be barred from using electronics except for a phone with no internet capability and a basic laptop with limited functions.

FTX co-founder Sam Bankman-Fried paid out tens of millions of dollars worth of bribes to at least one Chinese government official, federal prosecutors alleged in a new indictment Tuesday. The indictment said accounts belonging to Bankman-Fried's hedge fund, Alameda Research, were the target of a freezing order from Chinese police "in or around" November 2021. Bankman-Fried and his associates considered and tried "numerous methods" to unfreeze the accounts, which contained around $1 billion worth of cryptocurrency, prosecutors allege. Ultimately, after both legal and personal efforts failed, Bankman-Fried agreed to and directed a multimillion-dollar bribe to have the frozen accounts unlocked, prosecutors alleged. Bankman-Fried now faces a federal indictment and civil charges from both the Securities and Exchange Commission and the Commodity Futures Trading Commission.

☆ The US, its allies, and North Korea are one wrong move away from disaster
▼ + stars: | 2023-03-11 | by ( Chad Kunkle | Defense Priorities | ) www.businessinsider.com time to read: +7 min

North Korea continues to test missiles while the US and South Korea hold high-profile exercises. This prospect should prod US policy makers to consider why they are choosing to push forward with the current approach to North Korea. US Air Force F-16s and B-1B bombers with South Korean F-35As during an exercise over the Korean Peninsula in November. Kim, his daughter, and other North Korean officials watch sports in Pyongyang in a photo released on February 17. There are already actions being taken by the Biden administration that show how maintaining a massive force in South Korea is not a top priority for the US, such as the recent decision to transfer artillery ammunition from South Korea to resupply Ukrainian stockpiles.

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