This article comes fromBloombergBloomberg

Odaily Translator | Nian Yin Si Tang

, original author: Lydia Beyoud, Yueqi Yang & Olga Kharif

U.S. regulators are investigating whether embattled cryptocurrency exchange FTX.com mishandled customer funds and are probing the company’s ties to the rest of Sam Bankman-Fried’s (SBF) crypto empire.

at the same time,The SEC and CFTC investigations are related to the liquidity crisis that pushed FTX to the brink of collapse, according to three people familiar with the matter. Two of the people, who were not authorized to speak publicly on the matter, said the SEC’s review began months ago with an investigation into FTX US and its crypto lending activities.at the same time,

The U.S. Department of Justice is also investigating FTX

. Additionally, state regulators have previously been investigating whether FTX and FTX US offered derivatives trading services to U.S. clients without registering with federal regulators.The turmoil at FTX led to a tentative bailout offer from rival Binance Holdings Ltd., but Binance eventually decided to walk away from the acquisition as the scope of FTX's woes became more apparent.Binance Official Today

issued a statement, has decided not to pursue a potential acquisition of FTX.com based on the results of the company's due diligence, as well as recent news reports regarding the mishandling of client funds and alleged US agency investigations. According to the article, at the beginning, Binance hoped to support FTX's customers and provide liquidity, but these issues were beyond Binance's control or ability to help.In addition, according to people familiar with the matter, SBF told investors,

FTX Faces Funding Shortage of Up to $8 Billion

, is trying to raise capital with debt, equity, or a combination of the two. In addition, SBF admitted that FTX has serious financial loopholes, saying that without capital injection, FTX will file for bankruptcy.

U.S. regulators are also probing the platform’s ties to FTX US and SBF’s trading firm Alameda Research, two people familiar with the matter said.

Representatives for the SEC and Binance declined to comment. The CFTC, FTX and FTX US did not immediately respond to requests for comment.

FTX.com's troubles follow the collapse of several cryptocurrency firms this year, sparking calls for more regulation in the United States. Questions continue over who should regulate trading platforms, even as various agencies in Washington assert themselves to have some jurisdiction in this regard.

The CFTC’s jurisdiction over cryptocurrencies is generally limited to derivatives, though the agency can take enforcement action if it believes the underlying markets have been fraudulent or manipulative. The US SEC claims that digital currencies can be considered securities under its rules. Both regulators also regulate investment institutions.

In recent days, regulators have asked for details on the ownership structure of FTX US and FTX.com, which serves non-U.S. clients, two people familiar with the matter said. Of interest to regulators is any overlap between management and board structures, as well as the financial relationship between the two entities. The agencies also asked for details about whether FTX.com’s customer accounts were properly segregated and the makeup of its investor base, one of the people said.