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FTX founder suspected of market manipulation: NYT



Sam Bankman Fried Bankruptcy

Sam Bankman-Fried – FTX Founder – Credit: Alamy

According to the New York Timesthe U.S. authorities have opened a investigation to determine whether Sam Bankman Fried played a role in the collapse from cryptocurrencies of the ecosystem Terra.

At founder of the bankrupt stock exchange FTX faces a research conducted by federal prosecutors in the United States, reports the NYTquoting people close to the case.

Federal government officials suspect that Sam Bankman Fried is involved in market manipulation with cryptocurrencies MOON y UST to FTX and Alameda Research, according to sources. They would be looking to see if SBF played a role in the collapse of the ecosystem. Terrawhich would have precipitated the fall of its own platform.

In the spring of 2022, more than $40 billion went up in smoke in the wake of the UST stablecoin depeg and the sharp drop from LUNA Course.

SBF and its expanding empire of failed crypto firms are now under various investigations in the U.S. but also in other countries, including the Bahamas, where its subsidiary FTX Digital Markets is located.

Recently, the chairwoman of the U.S. House Financial Services Committee asked the fallen CEO to. testify in a audition scheduled for December 13, 2022. SBF responded, through a tweet, that he wanted to clarify things before testifying.

Financial Services Committee could cite SBF if it does not appear by itself.

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