Did Sam Bankman-Fried Manipulate Terra LUNA Price?


Federal prosecutors are investigating whether FTX’s founder, Sam Bankman-Fried, manipulated TerraUSD and Terra LUNA which created a domino effect in the crypto market.

U.S. prosecutors in New York are examining the possibility that SBF steered the prices of TerraUSD and LUNA to benefit the entities he controlled.

As per New York Times, the downfall of TerraUSD was caused by a high number of sell orders that came from FTX.

Around the same time, FTX had also shorted the price of Luna in an apparent attempt to make "a hefty profit."

However, the investigation is in its early stages. Thus, the FTX’s former CEO’s involvement with Terra remains uncertain.