<p>U.S. prosecutors have reportedly opened a criminal investigation into whether disgraced FTX founder <a href="https://www.dailywire.com/topic/sam-bankman-fried" target="_blank" rel="noopener">Sam Bankman-Fried</a>, a prolific Democrat, committed financial crimes that led to the collapse of the company last month.</p>
<p>The New York Times <a href="https://www.nytimes.com/2022/12/07/business/ftx-sbf-crypto-market-investigation.html?searchResultPosition=1" target="_blank" rel="noopener">reported</a> that the investigation is centered around examining if Bankman-Fried &#8220;steered the prices of two interlinked currencies, TerraUSD and Luna, to benefit the entities he controlled, including FTX and Alameda Research, a hedge fund he co-founded and owned.&#8221;</p>
<p>Federal prosecutors and officials at the Securities and Exchange Commission (SEC) are also investigating if Bankman-Fried broke the law by transferring FTX’s customer funds to Alameda, the report said.</p>
<p>The same entities were already investigating whether the company broke money laundering laws long before the company&#8217;s public collapse, Bloomberg News <a href="https://www.bloomberg.com/news/articles/2022-11-21/us-prosecutors-opened-probe-of-ftx-months-before-its-collapse?leadSource=uverify%20wall" target="_blank" rel="noopener">reported</a>.</p>
<p><b data-stringify-type="bold"><a class="c-link" href="https://get.dailywire.com/readers-pass/read-only-v2?utm_campaign=dwplus&amp;utm_medium=editorial&amp;utm_source=dwsite&amp;cid=dwplus&amp;mid=z&amp;xid=0&amp;_gl=1*v9j40z*_ga*MTE3MDIyNDM4Ni4xNjU4MzQzNjQx*_ga_CZKR9ZYKJP*MTY3MDQ1NjgzMS40NzAuMS4xNjcwNDU3MDE2LjYwLjAuMA.." target="_blank" rel="noopener noreferrer" data-stringify-link="https://get.dailywire.com/readers-pass/read-only-v2?utm_campaign=dwplus&amp;utm_medium=editorial&amp;utm_source=dwsite&amp;cid=dwplus&amp;mid=z&amp;xid=0" data-sk="tooltip_parent" data-remove-tab-index="true" aria-describedby="sk-tooltip-54730">TIRED OF THE LEGACY MEDIA’S BIAS CONTROLLING THE NARRATIVE AND OBSCURING THE TRUTH? JOIN US.</a></b></p>
<p>FTX, which is headquartered in the Bahamas, was <a href="https://www.dailywire.com/news/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes" target="_blank" rel="noopener">launched</a> in 2019 and had accrued more than one million users by 2022. Users suddenly demanded $6 billion in withdrawals after an article published by CoinDesk revealed last month that the two arms of Bankman-Fried’s cryptocurrency empire, FTX and Alameda Research, had significant overlap on their balance sheets in the form of the cryptocurrency FTT, which FTX invented.</p>
<p>The disheveled 30-year-old went from boasting a $15.6 billion net worth to having “no material wealth” over the span of approximately two days.</p>
<p>When asked late last month during an interview with CNBC’s Andrew Ross Sorkin at the Dealbook Summit whether he had ever lied during his time at FTX, Bankman-Fried <a href="https://www.dailywire.com/news/sam-bankman-fried-on-whether-he-lied-there-are-certainly-times-when-i-was-a-marketer-for-ftx">responded</a>, “I don’t know of times when I lied, I think, look, there are certainly times when I was acting as a, um, as a representative, as a marketer for FTX.”</p>
<p>“I didn’t ever try to commit fraud on anyone,” Bankman-Fried <a href="https://www.cnbc.com/2022/11/30/former-ftx-ceo-sam-bankman-fried-says-i-didnt-ever-try-to-commit-fraud.html?utm_term=Autofeed&amp;utm_medium=Social&amp;utm_content=Main&amp;utm_source=Twitter#Echobox=1669846399" target="_blank" rel="noopener">claimed</a>. “I saw it as a thriving business and I was shocked by what happened this month.”</p>
<p><em>This is a breaking news story; refresh the page for updates.</em></p>
<p><strong>Related: <a href="https://www.dailywire.com/news/breaking-maxine-waters-not-planning-on-subpoenaing-sam-bankman-fried-to-testify-on-ftx-collapse-report">Maxine Waters Not Planning On Subpoenaing Sam Bankman-Fried To Testify On FTX Collapse: Report</a></strong></p>

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Federal Prosecutors Open Criminal Investigation Into Disgraced FTX Founder Sam Bankman-Fried, Report Says

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Federal Prosecutors Open Criminal Investigation Into Disgraced FTX Founder Sam Bankman-Fried, Report Says