FTX founder Sam Bankman-Fried is being investigated by authorities in the United States to determine if he manipulated the market for two cryptocurrencies, leading to their collapse and the implosion of his own cryptocurrency exchange, according to a New York Times report.

US federal prosecutors are looking into whether Bankman-Fried controlled the prices of TerraUsd and Luna, two interlinked digital currencies, to benefit his companies FTX and Alameda Research.

Free legal advice

We advise everyone to be careful with their investments. Current markets are adversely affected by a plethora of unfavorable events creating a perfect storm that wiped out many of the “crypto giants.”  The market will be unstable, and crime will come with uncertainty and loose regulations. Research every crypto company thoroughly before investing, and at least for now, be conservative and careful with your money.

If you are a victim in this case, do not hesitate to contact us.