Did Bankman-fried manipulate FTX's 'Luna' and 'terrausd' price?

U.S. prosecutors in Manhattan are examining the possibility of Bankman-Fried for manipulating the price of failed algorithmic stablecoin TerraUSD (UST) and its sister token LUNA, to benefit the two companies he founded, FTX and its brokerage arm, Alameda Research, two unnamed people familiar with the matter told the New York Times.

Did Sam Bankman-fried manipulate the cryptocurrency market?

Federal prosecutors are investigating whether FTX’s founder, Sam Bankman-Fried, manipulated the market for two cryptocurrencies this past spring, leading to their collapse and creating a domino effect that eventually caused the implosion of his own cryptocurrency exchange last month, according to two people with knowledge of the matter.

Who is Sam Bankman-fried?

Hiroko Masuike/The New York Times Since the collapse of the crypto exchange FTX last month, its founder, Sam Bankman-Fried, has faced an array of investigations worldwide into how his empire imploded — and how billions of dollars’ worth of customer money disappeared.

Did Bankman-fried commit wrongdoing?

The investigation is in its early stages, and it's unclear if prosecutors have determined any wrongdoing by the crypto exchange founder. Troubles surrounding Bankman-Fried have only compounded after the collapse of FTX.