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News

FTX Was Investigated For Months Before Its Collapse

November 22, 2022 - Around 1 mins mins to read
Before FTX sought bankruptcy protection, the U.S. Attorney’s Office for the Southern District of New York was looking into the cryptocurrency exchange, according to Bloomberg.
FTX Was Investigated For Months Before Its Collapse

According to Bloomberg, which cited unidentified sources, prosecutors were especially investigating whether the Bank Secrecy Act had been followed. The investigation focused on cryptocurrency exchanges with American and foreign subsidiaries, including Sam Bankman-Fried‘s Bahamas-based company, which also ran FTX US.

As Coincu reported, the Securities and Exchange Commission, Commodity Futures Trading Commission, and Department of Justice is currently conducting additional investigations into FTX.

FTX Was Investigated For Months Before Its Collapse

FTX is currently also being noticed by the US authorities because of its influence on the crypto market. Even the Biden administration is eager to push this market legislation to mitigate post-event risks.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Bank Secrecy Act

CFTC

DOJ

FTX

Sam Bankman-Fried

SEC

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

FTX Was Investigated For Months Before Its Collapse

Before FTX sought bankruptcy protection, the U.S. Attorney’s Office for the Southern District of New York was looking into the cryptocurrency exchange, according to Bloomberg.
FTX Was Investigated For Months Before Its Collapse

According to Bloomberg, which cited unidentified sources, prosecutors were especially investigating whether the Bank Secrecy Act had been followed. The investigation focused on cryptocurrency exchanges with American and foreign subsidiaries, including Sam Bankman-Fried‘s Bahamas-based company, which also ran FTX US.

As Coincu reported, the Securities and Exchange Commission, Commodity Futures Trading Commission, and Department of Justice is currently conducting additional investigations into FTX.

FTX Was Investigated For Months Before Its Collapse

FTX is currently also being noticed by the US authorities because of its influence on the crypto market. Even the Biden administration is eager to push this market legislation to mitigate post-event risks.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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