Texas Regulator Sends FTX Former CEO Notice to Participate in Crash Hearing
The Texas Securities Board has sent FTX founder Sam Bankman-Fried notice of participation in a hearing scheduled for February 2 for the discussion of the collapse of the cryptocurrency exchange.
The regulator suspects FTX Capital Markets of selling unregistered securities to residents of the state as savings products.
According to the document, the agency intends to oblige the platform to stop violating the law and return the money to affected investors.
The regulator launched an investigation in October as part of a deal to buy FTX.US the assets of bankrupt lender Voyager Digital. At that time, the director of the agency’s enforcement department, Joseph Jason Rotunda, said that dialogue with the exchange and consideration of an enforcement action as a last resort.
