The cryptocurrency exchange FTX is facing a criminal investigation in the Bahamas after declaring bankruptcy and effectively collapsing last week. Former crypto billionaire and top Democratic donor Sam Bankman-Fried co-founded FTX, which reported that roughly $1 billion in crypto funds had vanished due to “unauthorised transactions.” According to Bloomberg, the company is based in the Bahamas and declared bankruptcy last week, prompting an investigation by the country’s securities commission. A police spokesman told Bloomberg on Sunday that, “In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.”
