US Department of Justice is Investigating Causes of FTX Collapse

Reading time: < 1 minute

The US authorities intend to conduct an investigation to determine the causes of the collapse of FTX.

The initiator of the investigation is the Ministry of Justice, which sent the corresponding claim to the court last Thursday.

Law enforcement agencies want to conduct the investigation to understand not only the reasons for the bankruptcy of FTX, but also to find out what Sam Backman-Fried had to do with this process.

The Ministry of Justice does not rule out the former CEO of the exchange may be involved in a fraudulent scheme.

Galaxy Digital’s head Mike Novogratz has recently said that Sam Bankman-Fried should be sent to prison, as many crypto investors, including his company, suffered from his actions.

Louis Adams

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.