Whether or not FTX executives played a role in client withdrawals that took place after the exchange saw its assets frozen is now under investigation by Bahamian authorities, Bloomberg News reported, citing sources.
FTX former CEO and co-founder Sam Bankman-Fried was interviewed in his Nassau residence a number of times by investigators, sources with knowledge of the matter told Bloomberg. The probe seeks to better understand if Bankman-Fried and co-founder Gary Wang had knowledge or involvement in the transactions.
Bahamian authorities are studying relationships between FTX.com, which is registered locally as FTX Digital Markets Ltd., and sister trading firm Alameda Research.
Bankman-Fried is set to provide virtual testimony before Congress tomorrow, opting out of an in-person appearance in light of what he said was an “overbooked” schedule.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.