Feds investigating FTX founder SBF for possible market manipulation: NYT

Quick Take

  • Federal prosecutors are investigating FTX founder and former CEO Sam Bankman-Fried over possible market manipulation of TerraUSD and Luna, The New York Times reported.
  • The inquiry focuses on whether Bankman-Fried influenced prices of the digital assets to benefit FTX and Alameda Research. 

U.S. prosecutors are probing into whether FTX founder and former CEO Sam Bankman-Fried could have manipulated the prices of TerraUSD and Luna cryptocurrencies earlier this year to benefit his businesses, the New York Times reported. 

The prosecutors are looking into whether Bankman-Fried could have "steered" the prices of algorithmic stablecoin TerraUSD (UST) and its associated token Luna (LUNA), the report s