US financial regulator launches investigation into exchange FTX US

The Texas authorities believe that some of the platform’s services may fall under the definition of securities

18.10.2022 - 09:30

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1 min

What’s new? The Texas securities regulator has launched an investigation into the CEO of cryptocurrency exchange FTX Sam Bankman-Fried and the company’s US arm, FTX US. According to the agency’s director Joe Rotunda, some of the platform’s services may meet the definition of securities. According to him, in question are accounts on which the exchange pays investors yield for depositing cryptocurrencies.

Joe Rotunda’s statement

More details about the situation. The regulator’s director noted that similar charges were filed against the bankrupt crypto broker Voyager Digital. However, the Texas agency said in a statement that further investigation is needed to determine if FTX is violating the law.

Representatives of the company itself said that they are in talks with the authorities. FTX noted that it already has a valid license application pending.

Earlier, the US Securities and Exchange Commission (SEC) launched an investigation into the creator of the Bored Ape Yacht Club NFT collection, Yuga Labs. The regulator believes that tokens from their collections and the native coin, ApeCoin (APE), may fall under the definition of securities. Yuga Labs representatives note that they fully cooperate with the authorities and comply with all their requests.

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