U.S. prosecutors in New York are probing FTX's collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals.
FTX logo is seen in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration
Nov 14 - U.S. prosecutors in New York are probing FTX's collapse, a source with knowledge of the investigations said, after the crypto exchangeThe Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are now all investigating how FTX handled customer funds as Alameda Research, the proprietary trading firm of FTX Chief Executive Sam Bankman-Fried, unraveled, the source said.
The SEC's probe also targets FTX executives in the firm's handling of customer funds and any potential breaking of securities laws, a second source said.FTX did not immediately respond to a request for comment. FTX's bankruptcy followed a failed rescue deal with rival exchange Binance, with FTX now facing scrutiny from U.S. regulators over its handling of customer funds, as well as its crypto-lending activities.
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