According to sources speaking to Bloomberg, the authorities in the Bahamas are investigating whether or not the management of FTX knew about or had a part in the customer withdrawals that took place after the assets of the exchange were seized by the authorities.
According to Bloomberg News, which cited sources for its information, the authorities in the Bahamas are now investigating whether or not officials from FTX had a part in customer withdrawals that took place after the exchange saw its assets blocked.
Sam Bankman-Fried, a former CEO and co-founder of FTX, was questioned by investigators at his home in Nassau on many occasions, according to people familiar with the investigation who spoke with Bloomberg. The investigation is looking into whether Bankman-Fried and Gary Wang, who was also a co-founder of the company, were aware of or participated in the transactions.
The links between FTX.com, which is registered locally as FTX Digital Markets Ltd., and the sibling trading business Alameda Research are now being investigated by the authorities in the Bahamas.
Bankman-Fried has decided against making a personal appearance before Congress in order to avoid what he referred to as an “overbooked” schedule. Instead, he will deliver virtual testimony to the committee tomorrow.