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FTX and FTX USA founder Sam Bankman-Fried have been investigated by Texas regulators for possible securities violations as part of an investigation into FTX and FTX USA.

The Texas Securities and Exchange Commission (SEC) is investigating possible securities violations at the cryptocurrency exchange FTX and its US subsidiary, FTX USA, according to a state filing. In addition to Sam Bankman-Fried, the founder and CEO of the company, is also under investigation.

Regulators are investigating whether yield-bearing accounts offered to FTX US by Voyager Digital should be considered unregistered securities.

This was described in a filing connected with Voyager Digital’s bankruptcy proceedings. FTX won the bid for the acquisition of assets.

Joseph Jason Rotunda (director of enforcement at the Texas State Securities Board) wrote that “The Enforcement Division is currently investigating FTX Trading and FTX USA and their principals including Sam Bankman–Fried.

The post Texas Authorities Put FTX Founder, Sam Bankman-Fried Under a Microscope first appeared on The Daily Encrypt.



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Angie Byrd