FTX founder Sam Bankman-Fried is reportedly under investigation for market manipulation
Join Our Telegram channel to stay up to date on breaking news coverage According to two people with knowledge of the situation, federal prosecutors are looking into whether Sam Bankman-Fried, the founder of FTX, manipulated the market for two cryptocurrencies this past spring, causing their demise and setting off a chain reaction that ultimately led to the collapse of his own cryptocurrency exchange last month. The possibility that Bankman-Fried manipulated the prices of two interconnected currencies, TerraUSD and Luna, to benefit the entities he controlled, such as FTX and Alameda Research, a hedge fund he co-founded and owned, is being looked into by US prosecutors in Manhattan, the people said. The investigation is still in its early stages, so it’s unclear if prosecutors have found evidence of Bankman-Fried’s wrongdoing or when they first started looking into the TerraUSD and Luna trades. The case is a component of a larger investigation into the fall of Bank...