FTX Latest: US Lawmakers Began Probe of Firm Months Before Crash
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Long before Sam Bankman-Fried’s FTX cryptocurrency empire collapsed this month, it already was on the radar of federal prosecutors in Manhattan. The US Attorney’s Office for the Southern District of New York, led by Damian Williams, spent several months working on a sweeping examination of cryptocurrency platforms with US and offshore arms and had started poking into FTX’s massive exchange operations, according to people familiar with the investigation.
Bitcoin spot hit a 52-week low at $15,574.23 on Monday. So far this year, the bellwether token has declined 66.4%.