FTX, Sam Bankman-Fried Under Investigation by Texas Regulators
FTX, FTX US and Sam Bankman-Fried are under investigation by Texas regulators
Cryptocurrency exchange FTX, its U.S. subsidiary FTX US, and the company's CEO Sam Bankman-Fried are under investigation by Texas regulators for potential securities violations.
Regulators will investigate whether the revenue products offered by the company should be considered unregistered securities.
"The Enforcement Division is now investigating FTX Trading, FTX US, and their principals, including Sam Bankman-Fried," wrote Joseph Jason Rotunda, director of enforcement for the Texas State Securities Board.