Embattled Crypto Exchange FTX Files For Bankruptcy

FTX, once the third largest cryptocurrency exchange, is in turmoil following the resignation of its founder. The company experienced a rapid decline after a significant run on deposits, leading to its collapse. Currently, FTX is under investigation by New York federal prosecutors and the Securities and Exchange Commission, facing multiple challenges and scrutiny.

What are some of the problems that FTX is currently facing?

Which authorities are investigating the issues surrounding FTX?