Crypto exchange FTX ordered to halt 'false and misleading' claims by U.S. bank regulator


FILE PHOTO Representations of cryptocurrencies in this illustration taken January 24 2022. REUTERSDado RuvicIllustrationFile Photo

FILE PHOTO: Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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.

The Federal Deposit Insurance Corporation said a July tweet by Brett Harrison, head of FTX's U.S. operations, contained misleading claims that funds held at and stocks purchased through FTX were FDIC insured, and ordered the company to remove any misleading language from its social media accounts and websites.

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