As the New York Times reports today, federal prosecutors are investigating whether FTX founder Sam Bankman-Fried and his hedge fund Alameda orchestrated the trade to cause the collapse.

Anonymous sources told the NYT that U.S. prosecutors in Manhattan are investigating the possibility that Bankman-Fried manipulated prices to generate profits for his own companies.

The investigation is still in its early stages, the report says. It is not clear whether prosecutors have found any wrongdoing by Bankman-Fried or when they began investigating the TerraUSD and Luna deals.

(By Jake Simmons)