U.S. federal prosecutors are investigating whether FTX's founder Sam Bankman-Fried manipulated the market for two cryptocurrencies this May that led to their collapse and resulted in the implosion of his own cryptocurrency exchange, the New York Times reported on Wednesday.
The prosecutors are looking into whether Bankman-Fried controlled the prices of two interlinked currencies, TerraUsd and Luna, to benefit the entities he controlled including FTX and Alameda Research,The investigation is in its early stages, the newspaper said, adding that it is not clear whether prosecutors have determined any wrongdoing by Bankman-Fried, or when they began looking at the TerraUSD and Luna trades.
A spokesperson for the Manhattan U.S. attorney's office did not respond immediately to request for comment.
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