SEC stated SBF directed Ellison to Alameda to acquire billions of dollars from third-party lenders.
FTT tokens plummeted around 35%, reaching a new low of $0.855 on December 22.
The U.S. Securities and Exchange Commission (SEC) stated that FTX’s native token, “FTT was Offered and Sold as an Investment Contract and as a Security.” The claim was made by SEC in a lawsuit filed against the FTX executives Caroline Ellison and Gary Wang on 21st December 2022.
According to SEC, Sam Bankman-Fried directed Ellison for trading firm Alameda to acquire billions of dollars from third-party lenders. Alameda holds significant portation of crypto asset FTT that was issued by FTX and delivered to the trading company at no cost.
Also, SEC claims, Bankman-Fried and Wang had exempted Alameda from the risk management procedures and offered a nearly unlimited “line of credit” funded by the platform’s users, with Ellison’s knowledge and consent.
FTX violated the Procedures
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We współpracy z: https://thenewscrypto.com/u-s-sec-labels-ftxs-ftt-as-a-security/
