Founder of FTX Sam Bankman-Fried faces Federal inquiry

The life and times for the founder of FTX, Sam Bankman-Fried, are only getting more complicated and confusing as presently he is seemingly facing a Federal-enquiry, which the Federal authorities have duly initiated. Their main aim and intention are to successfully unravel the murky details behind what they deeply suspect are the many manipulations about Sam Bankman’s hedge funds that he presumably has carried out. These are related to the activities involving trading he has been actively engaged in. In their firm opinion, these activities finally led to the collapse of the two cryptocurrencies sometime in May 2022.  

According to inside information received from reliable sources, the Federal authorities are leaving no stone unturned regarding the closely carried out investigation of Sam Bankman-Fried and his suspicious activities, which ultimately led to the total downfall of the two cryptocurrencies. Not only that, the seemingly resultant factor was that the entire connected industry felt the negative impact and is supposedly still reeling under it. This scenario also led to the FTX exchange itself going bankrupt, taking a lot of other unsuspecting enterprises with it.

In their search for possible fraudulent acts, the United States prosecutors are very carefully and closely screening the fact that Sam Bankman was responsible for engineering the pricing related to two of the inter-connected currencies, namely, Terra USD and Luna. However, in their firm opinion, this was carried out to effectively favor the entities he was in control of, which also happened to have included FTX, along with Almeda Research, which happens to be a hedge fund he owned.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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