U.S. Prosecutors Investigated FTX MONTHS Before Collapse- The Coverup Continues…
U.S. prosecutors have been investigating the cryptocurrency exchange FTX for months before its collapse, according to a new report from Bloomberg.
The report, which cites “people familiar with the matter”, reveals that the investigation has been ongoing since at least April 2021, when U.S. authorities first began looking into the exchange’s operations.
The investigation is being carried out by the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC).
The focus of the investigation is said to be on FTX’s “compliance with anti-money laundering and other financial regulations”. This would suggest that U.S. authorities believe the exchange may have been involved in some form of illegal activity.
At this time, no charges have been filed against FTX or its executives, but the investigation is ongoing.
The news of the investigation comes as a shock to many in the cryptocurrency community, as FTX was one of the most popular exchanges in the U.S. The exchange was founded in 2018 and had quickly grown to become a major player in the industry.
The investigation is yet another example of how U.S. authorities are cracking down on cryptocurrency exchanges. Earlier this year, the DOJ arrested the CEO of the popular exchange Binance for alleged money laundering and fraud.
The news of the FTX investigation is sure to be concerning for many in the industry, and it remains to be seen what the outcome will be. In the meantime, the coverup continues.
