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FTX New CEO With Bankruptcy Lawyers Meeting Federal Prosecutors in New York

FTX Latest News: According to reports, FTX new CEO John Ray had along with bankruptcy lawyers met with Manhattan federal prosecutors investigating the FTX collapse. The prosecutors are also looking into allegations that FTX misused customer funds and lost billions or dollars. In a different investigation, the US SEC is also looking into allegations of misuse of user funds by FTX US. It is said that the meeting took place on Thursday in New York. Reports also indicated that the prosecutors were looking into whether FTX misappropriated customer funds for trades.

According to The New York Times, the federal investigation is focused on whether FTX manipulated the markets for two crypto tokens – TerraUSD and LUNA. SBF is facing a broader inquiry into potential market manipulation, the report added. Earlier, reports suggested Terra co-founder Do Kwon blaming Sam Bankman-Fried and Genesis for the Terra crisis. Kwon said he believes Genesis provided $1 billion in TerraUSD (UST) stablecoin to SBF before the UST depeg.

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