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FTX founder Bankman-Fried facing market rigging probe: Report

FTX Sam Bankman-Fried Crypto

[File: Alex Wong/Getty Images via AFP]

FTX founder Sam Bankman-Fried is being investigated by authorities in the United States to determine if he manipulated the market for two cryptocurrencies, leading to their collapse and the implosion of his own cryptocurrency exchange, according to a New York Times report.

US federal prosecutors are looking into whether Bankman-Fried controlled the prices of TerraUsd and Luna, two interlinked digital currencies, to benefit his companies FTX and Alameda Research, the newspaper reported on Wednesday.

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