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AP National Business

AP source; US authorities investigate crypto exchange FTX

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Published 10:17 AM

By KEN SWEET and MICHAEL BALSAMO
AP Business Writer

NEW YORK (AP) — The swift collapse of crypto exchange FTX sent more shockwaves through the cryptocurrency world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices. A person familiar with matter said that the Department of Justice and the Securities and Exchange Commission are examining FTX to determine whether any criminal activity or securities offenses were committed. Meanwhile, cryptocurrency prices rose after days of selling after a report showing that inflation cooled off a bit last month gave a boost to riskier assets.

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