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California Regulator Reveals Investigation Into FTX’s Failure, Says ‘Crypto Assets Are High-Risk Investments’

November 11, 2022


California’s Department of Financial Protection Investigates FTX, Publishes Consumer Warning

Following the report that shows the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating FTX, California’s DFPI has published a consumer warning about FTX.

“[DFPI] is investigating the apparent failure of crypto asset platform FTX,” the regulator’s warning says. “We encourage consumers to be aware of the risks of investing in volatile crypto assets. Consumers and investors must be aware that crypto assets are high-risk investments and should not expect to be reimbursed for any losses.”