FTX is facing a significant increase in bankruptcy claims while the company recovers $7.3 billion in assets amidst ongoing investigations into cryptocurrency sales.
In an attempt to defend itself, the FTX team is seeking to reject the investigation request filed by the U.S. Securities and Exchange Commission (SEC). This request comes as part of ongoing investigations into cryptocurrency sales.
Founded as a fintech startup, FTX is working on developing the Terra protocol for cryptocurrencies. With the growing public interest in cryptocurrencies, the SEC has begun investigating cryptocurrency sales and compliance with financial laws.
In this context, the SEC requested an investigation into FTX’s cryptocurrency sales. However, the FTX team is seeking to reject this request and defend the integrity and honesty of its operations.
Sources close to the FTX team indicate that they affirm the company’s cryptocurrency sales were conducted in accordance with applicable financial laws. Therefore, they consider the SEC’s investigation request unjustified, aimed only at raising doubts about the safety of financial operations.
This case is part of a series of investigations conducted by the SEC into cryptocurrency sales. These investigations come amid the increasing interest in cryptocurrencies and financial technology advancements.
Ultimately, the FTX team looks forward to rejecting the investigation request and proving the integrity of its operations and the safety of its cryptocurrency sales.
