FTX-Tether Connection: Involvement Of Banks Raises Questions

Beleaguered crypto exchange FTX’s connection with Tether remains in question as the banks used by both companies are run by the same person. FTX’s Alameda Research invested $11.5 million in Farmington State Bank’s parent FBH, run by Jean Chalopin. Surprisingly, Chalopin is also the chairman of Bahamas-based Deltec Bank, the main bank of Tether.