Sam Bankman-Fried, who founded the FTX (FTT-USD) cryptocurrency exchange now-bank, has hired former prosecutor Mark Cohen to represent him, Reuters reported on Tuesday, citing an email from SBF spokesman Mark Botnick.
The former director of FTX, who has not been charged with any wrongdoing, has detained Cohen as US authorities investigate the long-running breach of the crypto empire.
Just days before FTX filed for bankruptcy on November 9, the US Securities and Exchange Commission and the Commodity Futures Trading Commission launched an investigation into whether FTX handled customer money properly. The failed company is also facing an administrative review from the Manhattan US attorney’s office.
Against conventional legal advice, the SBF has been outspoken following the sudden collapse of FTX, making several appearances in the media. At the New York Times Dealbook conference last week, the 30-year-old said she had “never tried to cheat.”
Remember in the middle of November when members of the House Financial Services Committee invited the SBF to appear in a meeting next week to discuss the end of the FTX, although they said that they would not be ready at that time.
“Once I have finished studying and reviewing what happened, I feel it is my responsibility to appear before the committee and explain,” the SBF tweeted recently. post. “I’m not sure it will happen by the 13th. But when it does, I will testify.”
Earlier, (Dec. 2) Reuters reported that bankruptcy attorneys are profiting from the crypto boom.