Feds Probing Bankman-Fried’s Manipulation Of TerraUSD, Luna… Which Eventually Crushed FTX

by Tyler Durden

Wednesday, Dec 07, 2022 – 09:00 PM

Oh the irony…

While questions remain over what was known and by whom about commingled FTX client funds being used to fill a vast and leaking bucket of a balance sheet at Alameda, it appears, based on a report from The New York Times (NYT), that the catalyst for this whole debacle could have been none other than the world’s (second) greatest Democrat donor and (ineffective) altruist – Sam Bankman-Fried.

NYT reports that federal prosecutors are investigating whether FTX founder Sam Bankman-Fried and his hedge fund orchestrated trades in a way that led to the collapse of two cryptocurrencies in May – TerraUSD and Luna.

Specifically, Manhattan prosecutors (US attorney for the Southern District of New York) are examining the possibility that Bankman-Fried steered the prices of two algorithmically-interlinked currencies to benefit entities he controlled, including FTX and Alameda Research.

To continue at original source;

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