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The Texas Tribune
The Texas Tribune
National
Alex Nguyen

Cryptocurrency firm FTX, billionaire CEO focus of Texas securities investigation

FTX Crypto Texas Joe Rotunda United States Sam Bankman-Fried Voyager
Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol in Washington on Thursday, Sept. 15, 2022.
Sam Bankman-Fried, CEO and founder of FTX, walks near the U.S. Capitol on Sept. 15, 2022. (Credit: Graeme Sloan/Sipa USA via REUTERS)

Texas is investigating whether a major digital asset exchange and its billionaire founder have broken the state’s securities law.

Since last week, the Texas State Securities Board has been scrutinizing whether FTX is offering unregistered securities to residents through its yield-bearing cryptocurrency accounts. The investigation is outlined in an Oct. 14 filing for the bankruptcy process of Voyager Digital Holdings, a crypto brokerage firm whose assets FTX won in an auction last month. Texas also started investigating Voyager after it imploded in July.

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