Bahamian Police Targets FTX’s Bankman-Fried: Report
Troubled cryptocurrency exchange FTX is facing another scrutiny from regulators as Bahamian police interviewed the exchange’s head Sam Bankman-Fried on Saturday, Bloomberg reports, citing sources close to the matter.
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Although no details were revealed, the move indicates that FTX is in deep trouble as US regulators are also probing the Bahamian-based trading platform. As per reports, the US Securities and Exchange Commission (SEC) alongside the Commodity Futures Trading Commission (CFTC) are investigating FTX’s relationships with Alameda Research, a trading firm also founded by the exchange’s head Sam Bankman-Fried.
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iHodl earlier reported that FTX had filed for Chapter 11 bankruptcy in the US as the platform reportedly owes its users around $10 billion. According to a published statement on Twitter, approximately 130 firms affiliated with FTX are part of the proceedings in the proceedings. FTX Australia and LedgerX were not included in the case.
FTX Founder Sam Bankman-Fried has stepped down as CEO and requested the court to appoint Stephen Neal as FTX’s new chairman of the board. The exchange said in the bankruptcy filing that it has 100,000 creditors as well as liabilities in the range from $10 billion to $50 billion.
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