**News Flash: BIT Mining's Bribery Scandal and $10M Fine**

BIT Mining, formerly known as 500.com, has admitted to bribing Japanese politicians between 2017 and 2019 to secure a resort and casino license. The company will pay $10 million in fines to the US government, with $4 million going to the SEC and the remainder to the DOJ. The scheme involved $2.5 million in illicit payments disguised as business expenses. Despite these efforts, BIT Mining failed to secure the contract. The DOJ has also charged former CEO Zhengming Pan for orchestrating the bribes. BIT Mining's shares fell 6.3% following the news.