A senior official told the Wall Street Journal that the U.S. Securities and Exchange Commission SEC is increasing its scrutiny of the work audit firms do for criptocurrencies companies.
Paul Munter, SEC's acting chief accountant, said investors should be very cautious about some of the claims that are being made by the companies.
The implosion of FTX has rippled across the industry, hobbling liquidity at firms with exposure to what was once one of the world's biggest criptocurrency exchanges, and has prompted investigations by regulators in several countries.
Last month FTX filed for U.S. bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive after rival exchange Binance walked away from a proposed acquisition.
Several crypto firms have been bracing for a fallout from the FTX collapse, with many counting their exposure in millions to the beleaguered exchange.