12/8/2022, 4:26 AM (Source: TeleTrader)
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NY probes FTX CEO's market manipulation - report

Prosecutors in New York launched an investigation into whether FTX CEO Sam Bankman-Fried manipulated the cryptocurrency market ahead of his company's collapse, the New York Times reported. The Manhattan probe is looking into the possibility that he controlled the prices of cryptocurrencies TerraUSD and Luna to the advantage of FTX and his other company, Alameda Research, according to sources.

It is currently unclear whether the investigation has found any evidence of crimes as it is in the "early stages," the report stated. FTX is also being investigated for "violating US money-laundering laws that require money transfer businesses to know who their customers are and flag any potentially illegal activity to law enforcement authorities," sources familiar with the proceedings claimed.

Baha Breaking News (BBN) / DJ