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Crypto trading firms are scrambling to prevent mass withdrawals after it emerged the collapse of Sam Bankman-Fried's FTX platform is under investigation by attorneys in Manhattan.<br>The Manhattan U.S.<br><br>attorney's office is looking at whether FTX misused client funds by lending billions of dollars to a separate trading firm .<br>A probe puts the FTX founder, whose fortune has been decimated by the crisis, under threat of charges including wire fraud.<br> and other cryptocurrencies remained under pressure on Monday, prompting rival exchanges to reassure jittery investors.<br>The world's top exchanges experienced outflows of a combined $6.2 billion worth of Bitcoin and Ethereum in the week from November 6 to November 13, according to one analysis.<br>CryptoQuant found $3.7 billion worth of Bitcoin and $2.5 billion of Ether were moved out of exchanges.<br>The collapse of FTX follows a series of rapid developments since last week:<br>FTX was unable to fulfill a run on deposits when customers tried to withdraw $6 billion in 72 hoursBinance, FTX's largest rival, backed out of a proposed bailout after finding a 'black hole' in the booksUS investigators began looking at concerns FTX was using customer deposits to fund risky bets through a separate hedge fund founded by Bankman-FriedBitcoin has fallen around 18 percent in November after the FT crisis shocked the crypto marketsBankman-Fried is now holed-up in the [https://www.bing.com/search?q=Bahamas%20penthouse&form=MSNNWS&mkt=en-us&pq=Bahamas%20penthouse Bahamas penthouse] he shared with several of his inner circle and has be quizzed by the nation's police         A probe by the Manhattan attorney's office puts Sam Bankman-Fried at risk of charges over the collapse of FTX amid claims the company misused client funds by handing them to Alameda<br>                Kris Marszalek, CEO of Crypto.com, insisted it's business as usual after a surge in withdrawals<br>         Bitcoin continues to struggle after its value dipped following the collapse of the FTX exchange<br>   RELATED ARTICLES              <br><br><br><br>Share this article<br>Share<br><br><br>Crypto.com, one of the world's top ten platforms by turnover, insisted it was ‘business as usual' and doubters would be ‘proved wrong'. <br>Kris Marszalek, CEO of the Singapore-based exchange, refuted suggestions it could be in trouble, adding: 'We will just continue with our business as usual and we will prove all the naysayers - and there are many of these right now on Twitter over the last couple of days - we will prove them all wrong with our actions. <br>'We will continue operating as we have always operated.<br><br>We will continue being a safe and secure place where everybody can access crypto.'<br>The site reportedly had withdrawals of $53 million during a ten-and-a-half hour period this weekend. Argus Inc, a blockchain analysis firm which analyzed the data, said the site had enough funds to meet withdrawals.<br>Meanwhile, Bitcoin slid back below $16,000 early on Monday before recovering to trade at $16,774, up 2.8 percent on the day.<br>Still, with losses so far in November at 18%, it remains set for its biggest monthly fall in percentage terms since June.<br>, was divided into a US division for American traders and another Bahamas-based entity.<br>The company likely hoped this split would shield certain business practices from the scrutiny of US authorities - but attorneys say the government could still find ways to charge Bankman-Fried.<br>Samson Enzer, a former Manhattan federal prosecutor, told the : ‘What this will boil down to is, were there deliberate lies to convince depositors or investors to part with their assets?<br>         Cypto.com had withdrawals of $53 million during a ten-and-a-half hour period this weekend<br>         The site had enough funds to meet withdrawals and Crypto.com chief Kris Marszalek has said its business as usual and 'naysayers' will be proved wron<br>‘Were there statements made that were false,  [https://www.racasinos.com 라카지노] and the maker of those statements knew they were false and made with the intent to deceive the investor?'<br>Among the issues being investigated is the fact that Bankman-Fried had transferred $10 billion of FTX customer funds to his trading company, Alameda Research. <br>Alameda was headed up by his rumored love interest, Caroline Ellison, 28.<br>Comments made by Bankman-Fried on Twitter last week, including the now-deleted claim that the company was ‘fine', could also be probed.<br>One of the key issues is whether US authorities can claim jurisdiction over FTX, which is based in the Bahamas.<br>But if investigators can show any funds, or any communications such as emails, passed through the US, then it could make FTX fair game.<br>Mr Enzer added: ‘The burden for venue is not very high.<br><br>The government would argue that if a single email went through New York, that would suffice.'<br>Tarek Helou, a former federal prosecutor now at law firm Wilson Sonsini Goodrich & Rosati, told the WSJ: ‘As broad as the law is, and the fact that every [https://www.modernmom.com/?s=transaction transaction] uses a wire and these people are Americans, I can't imagine there is no U.S.<br><br>jurisdiction here.'<br>FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.<br>         FTX founder Sam Bankman-Fried resigned as CEO on Friday and the company filed for bankruptcy<br>         Following the owner's resignation, the company turned John J.<br><br>Ray III, who is best known for guiding Enron through bankruptcy in the 2000s<br>           FTX enjoyed backing from big-name celebrities before a 'liquidity crunch' sparked its downfall<br><div class="art-ins mol-factbox news floatRHS" data-version="2" id="mol-b6c36c00-6128-11ed-82df-edca0963b023" website Bankman-Fried faces criminal probe for &apos;gambling&apos; FTX users&apos; cash