The once multi-billion dollar cryptocurrency enterprise, which was headquartered in the Bahamas, started unraveling after a CoinDesk article questioning the financials of FTX’s sister company Alameda Research led to a liquidity crunch in early November. On Tuesday, rival exchange Binance was looking to buy the embattled FTX before the deal was scrapped – the exchange is now seeking protection from bankruptcy in the U.S.
Source: https://www.coindesk.com/policy/2022/11/13/bankrupt-ftx-faces-criminal-investigation-in-the-bahamas/?utm_medium=referral&utm_source=rss&utm_campaign=headlines