FTX: Does SBF know who is behind the exchange hack?

It looks like we haven’t finished hearing about Sam Bankman-Fried! Since the bankruptcy of his crypto exchange, we discover a little more every day that the former CEO of FTX has committed numerous escapades. Recently, it was revealed that SBF is the subject of an investigation: he would be suspected of very serious facts.

SBF would have manipulated the market of TerraUSD (UST) and Terra (LUNA)

At the end of last month, we learned that BlockFi filed a complaint against Sam Bankman-Fried for not having respected a guarantee commitment. The deposed crypto leader may well face another trial for other facts. Indeed, the New York Times announced that US federal prosecutors suspect the former CEO of involvement in the collapse of Terra and its stablecoin.

It is possible that SBF manipulated the market for both digital assets to the benefit of FTX and Alameda Research. This manipulation of the market would have led a domino effect that caused the spectacular collapse of Terra, and later from FTX. It appears that prosecutors have launched an investigation to verify this information.

In fact, US authorities have been investigating the entire FTX affair for some time. In particular, they verify that SBF has not transferred the funds of FTX clients to Alameda. Another investigation involves violations of US money laundering laws.

Genesis would have played a crucial role in this case

Do Kwon, co-founder of Terraform Labs, shared the New York Times report on Twitter this December 8. He commented on his own post stating that Genesis would have provided crucial information to SBF. These would have allowed Sam to commit his fraud. Kwon said, “I think the time has come for Genesis to reveal if it provided the $1 billion UST shortly before the crash to SBF or Alameda“.

A manipulation?

He added : “The LFG purchase was presented as coming from “the interest of participating in the Terra Defi ecosystem”, not to provide ammunition for a peer attack“. “The Great Currency Recession that UST experienced in February 2021 was triggered by Alameda“, he underlined.

So far, SBF has failed to convince many of its innocence in the collapse of FTX. He certainly provided information on the subject, but it lacked consistency. For the likes of CZ and Elon Musk, SBF is a fraudster.

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