FTX had some eye-opening connections to powerful entities and individuals around the world before it all came crashing down.
FTX made waves with early endorsements by NFL legend Tom Brady, supermodel Gisele Bundchen, and NBA superstar Stephen Curry. FTX spent big money on a Super Bowl commercial featuring “Seinfeld” creator Larry David.
FTX, Sam Bankman-Fried Sit in the Crosshairs of U.S. Prosecutors
The crypto exchange’s collapse likely exposed the company and its founder to potential criminal liability
FTX’s offshore status and its willingness to keep American traders off its Bahamas-based exchange in large part shielded the company from strict U.S. laws that govern trading and how investments can be sold to the public.
But FTX’s implosion last week and reports that it used customer funds to back an affiliate’s risky venture investments have exposed the company and its founder to potential criminal liability, according to attorneys who specialize in white-collar criminal law.
