The US Federal Deposit Insurance Corporation (FDIC) has accused five companies, including cryptocurrency exchange FTX US, of making false statements.
The FDIC has issued a cease and desist order for FTX US and four other companies, the US arm of FTX, one of the world’s largest cryptocurrency exchanges, on the grounds that consumers are misled.
Stop Order from FDIC
According to the regulator, these companies have made false statements to consumers that their crypto products are under the FDIC guarantee.
The FDIC, along with FTX US, has issued cease and desist orders for five companies that misled investors by claiming they had coverage from a deposit insurance provider.
Details are coming…
