FTX was only created because Bitfinex shareholders were concerned that the NYAG investigation & truth coming out about the Bitfinex/Tether fraud, would torpedo Bitfinex/Tether.
They funded FTX/SBF, creating a new pretend-KYC/AML exchange to continue if Bitfinex blew.

They certainly don't want someone funding politicians and supporting a pro-regulation agenda. Solution: Take out his Jenga tower.

It's not an accident that FTX was founded the same month (day even...) Bitfinex suddenly got a bailout from Block One to the tune of $500 million dollars.

What's happening to FTX can happen to any Tether exchange. Someone just has to give the word.