Sunday, December 4

US probes FTX over handling of client funds – Bloomberg News


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Two top US financial regulators are probing whether crypto exchange FTX.com properly handled customers’ funds, and its relationship with other parts of Sam Bankman-Fried’s crypto empire, Bloomberg News reported on Wednesday.

The Securities and Exchange Commission and the Commodity Futures Trading Commission are probing FTX.com’s relationship with its American counterpart FTX US and Bankman-Fried’s trading firm Alameda Research, the report said.

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The report, citing people familiar with the matter, comes a day after crypto exchange Binance said it would acquire FTX.com.

A CFTC spokesperson declined to comment. The SEC and FTX.com did not immediately respond to Reuters’ requests for comment. (Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)



financialpost.com

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