FTX's relationship with Farmington State Bank is under investigation

According to the New York Times, the relationship between FTX and the Farmington State Bank (Farmington State Bank) is under investigation. The bank has only one branch, with only three employees until this year, and does not provide online banking or credit card services. In March this year, Alameda Research invested $11.5 million in its parent company FBH and acquired a stake in the bank. In the third quarter of this year, the bank's deposits increased by nearly 600% to $84 million, almost all of which increased ($71 million). ) from four new accounts. In addition, the chairman of the bank’s parent company FBH is Jean Chalopin, who is also the chairman of Deltec Bank, and the reserves of Tether, the USDT issuer, are stored in Deltec Bank. So far, neither Deltec Bank nor Farmington State Bank has responded to requests for comment on this matter. .