FTX: Sam Bankman-Fried in the crosshairs of Texas regulators

SBF, the boss of FTX, may take on the role of cryptocurrency lawyer before American regulators, but he is not clean for all that. Indeed, Texas authorities are currently looking into his case for a history of securities violations.

Ongoing investigation into Sam Bankman-Fried and FTX

Recently, we reported that SBF 100% approves of cryptocurrency regulation. ” It’s the right thing to do “, he estimated. He even went so far as to offer help to perfect this initiative.

Yesterday, Decrypt announced that he and his company are under investigation by Texas regulatory authorities. The cause: potential securities violations related to the acquisition of Voyager Digital’s assets.

And an note issued by the institution confirms these statements. Here is its title:

Title of document issued by the Texas State Securites Board

Supplemental Statement to the Limited Objection of the Texas State Securites Board and the Texas Department of Banking to the Debtors’ Motion for Entry of an Order (i) authorizing entry into the Asset Purchase Agreement and (ii) granting related measures. »

In other words, this institution intends to check whether the performance accounts offered by FTX US. In particular those which fall within the framework of the acquisition of the assets of Voyager Digital. A question arises: should they be considered unregistered titles?

Except that for Joseph Jason Rotunda, director of law enforcement of this agency, the investigation will expand to the entire ecosystem of FTX.

The Law Enforcement Division is currently investigating FTX Trading, FTX US and their directors, including Sam Bankman-Fried “, he specified.

At the same time, Rotunda was able to open an account on FTX with a view to earning a return on his Ethereum (ETH) deposit. By proceeding in this way, he had concluded that the investment contract offered by the American exchange is akin to a “security”.

FTX US, ongoing investigation

The replica of SBF

Nevertheless, FTX replied:

We have been in talks with regulators in the state of Texas for some time. [] We have an active license application pending, and we believe we are operating fully within the limits of what we can do in the meantime. And we look forward to continuing to work with Texas. »

As a reminder, FTX and SBF had just purchased the assets of Voyager and Celsius after their respective bankruptcy. Unfortunately, this seemingly life-saving operation runs the risk of cost a lot to this team which invests heavily in the cryptocurrency sector.

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