Surprisingly there is not much info on google.
However FTX had multiple exchanges, in multiple countries.
They all complied with local country rules.
FTX Japan was solvent from the beginning, as Japan required investors assets to be kept in different wallets, in cold storage, and to be audited by a government entity quarterly.
So the Japanese investors got their money back in 30 days.
FTX US was the US subsidery, which didn't offer any of the derrivative investments FTX was famous for worldwide.
Just an example of SEC rules.
Interestingly enough the CEO of FTX resiigned a few months before this implosian, after taking over the company and
From Investopedia:
FTX U.S. Derivatives was an exchange owned by FTX, the cryptocurrency exchange owned by Sam Bankman-Fried. Bankman-Fried was charged with and found guilty of several financial crimes after FTX declared bankruptcy in 2022.