- US federal prosecutors have released a probe into FTX founder SBF for sector manipulation, per NYT.
- The probe is in its early stages and it really is unclear if prosecutors have established any wrongdoing.
- FTX submitted for Chapter 11 bankruptcy on November 11 after an extreme 7 days-extensive liquidity squeeze.
US federal prosecutors are investigating FTX founder Sam Bankman-Fried for manipulating two cryptocurrencies this past Spring, the New York Occasions reported Wednesday, citing two people with information of the make any difference.
They have introduced a probe to decide regardless of whether Bankman-Fried controlled the price ranges of TerraUSD and Luna to the gain of FTX and its affiliated trading agency Alameda Research, according to the Occasions.
The investigation is in its early levels, and it truly is unclear if prosecutors have identified any wrongdoing by the crypto exchange founder.
Troubles encompassing Bankman-Fried have only compounded right after the collapse of FTX. The trade filed for Chapter 11 individual bankruptcy on November 11 immediately after it unsuccessful to secure a rescue next an extreme 7 days-extensive liquidity squeeze. Bankman-Fried resigned as CEO on the identical working day. Reuters claimed at the time FTX experienced transferred billions of dollars of shopper cash to Bankman-Fried’s Alameda Research.
Bankman Fried explained to the Situations in a assertion on Wednesday he was “not aware of any marketplace manipulation and certainly in no way intended to engage in market place manipulation.”
“To the best of my knowledge, all transactions have been for investment decision or for hedging,” he included, for each the Times.
Bankman-Fried and a agent of the US lawyer for the Southern District of New York did not immediately answer to Insider’s requests for comment despatched outside the house regular small business hours.
Related Post
- US federal prosecutors have released a probe into FTX founder SBF for sector manipulation, per NYT.
- The probe is in its early stages and it really is unclear if prosecutors have established any wrongdoing.
- FTX submitted for Chapter 11 bankruptcy on November 11 after an extreme 7 days-extensive liquidity squeeze.
US federal prosecutors are investigating FTX founder Sam Bankman-Fried for manipulating two cryptocurrencies this past Spring, the New York Occasions reported Wednesday, citing two people with information of the make any difference.
They have introduced a probe to decide regardless of whether Bankman-Fried controlled the price ranges of TerraUSD and Luna to the gain of FTX and its affiliated trading agency Alameda Research, according to the Occasions.
The investigation is in its early levels, and it truly is unclear if prosecutors have identified any wrongdoing by the crypto exchange founder.
Troubles encompassing Bankman-Fried have only compounded right after the collapse of FTX. The trade filed for Chapter 11 individual bankruptcy on November 11 immediately after it unsuccessful to secure a rescue next an extreme 7 days-extensive liquidity squeeze. Bankman-Fried resigned as CEO on the identical working day. Reuters claimed at the time FTX experienced transferred billions of dollars of shopper cash to Bankman-Fried’s Alameda Research.
Bankman Fried explained to the Situations in a assertion on Wednesday he was “not aware of any marketplace manipulation and certainly in no way intended to engage in market place manipulation.”
“To the best of my knowledge, all transactions have been for investment decision or for hedging,” he included, for each the Times.
Bankman-Fried and a agent of the US lawyer for the Southern District of New York did not immediately answer to Insider’s requests for comment despatched outside the house regular small business hours.
