STORY: Bitcoin and other cryptocurrencies were under pressure on Monday following last week's spectacular collapse of FTX, while regulators opened probes and rival exchanges sought to reassure jittery investors of their own stability.

The implosion of FTX, once a darling of the crypto industry with a $32 billion valuation as of January, has spurred investigations by the U.S. Justice Department, the Securities and Exchange Commission and Commodity Futures Trading Commission, a source with knowledge of the investigations said.

The SEC's probe is also targeting FTX executives, their knowledge of the handling of customer funds and any potential breaking of securities laws, a second source with knowledge of the investigation said.