British Officials Investigating Binance Influence in FTX Crash: At What Stage Is Investigation?

Giant cryptocurrency exchange FTXdeclared bankruptcy last week. A group of officials within the British Parliament are in the process of bankruptcy of FTX. Binance’s He recently started a study on whether it has an effect.

According to a new report from Bloomberg, British officials are not very happy with the progress of the investigation. In self-defense, Binance has only sent a few news articles to the British authorities. Alisson Thewliss, a member of the Treasury Committee, expressed dissatisfaction with the investigation on a radio show.

“Binance officials do not provide information on what is behind the business. The committee continues to work on investigating the back end of the FTX incident.”

Committee member, FTX incident in the country cryptocurrency announced that it would directly affect regulatory policy.

The UK has been working on comprehensive regulations for digital assets for months. The role of crypto companies in the country, especially in “money laundering” scenarios, is being questioned.

How FTX Driven to Bankruptcy

Binance CEO Changpeng Zhaoannounced that it will sell its FTT tokens in the first days of November, showing the problems in FTX and Alameda.

In the process, it turned out that the FTX exchange lent assets entrusted to customers to its subsidiary Alamenda Research. Following this scandal, FTX announced that it has filed for bankruptcy protection. Investors have not yet fully recovered their money from the failed stock market.

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