Is FTX 'false and misleading'?

WASHINGTON (Reuters) -A U.S. bank regulator ordered crypto exchange FTX on Friday to halt what it called "false and misleading" claims the exchange had made about whether funds at the company are insured by the government.

What happened to FTX?

FTX, along with its rival Binance, processes the majority of cryptocurrency trades around the world. Photograph: Leon Neal/Getty What happened to FTX and could the crisis spill over to the rest of crypto? FTX, the world’s second largest cryptocurrency exchange, is in a crisis and has pitched the digital asset market into another crash.

What's behind the FTX US cease-and-desist order?

Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more. The U.S. Federal Deposit Insurance Corp. (FDIC) published five cease-and-desist orders Friday, including one to crypto exchange FTX US, alleging they mislead investors by suggesting their accounts are insured through the government agency.

What is FTX & how does it work?

What is FTX? Officially headquartered in the Bahamas, FTX is managed from the US, with its biggest offices in Chicago and Miami. It is a cryptocurrency exchange, helping people buy and sell crypto assets.