The Former CEO Of FTX Was Investigated For Fraud Allegations By Turkey
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The country’s Treasury and Finance Ministry stated on Wednesday that Turkey had opened an inquiry into fraud claims against the former CEO of FTX, Samuel Bankman-Fried.
According to Anadolu Agency, Treasury and Finance Minister Nureddin Nebati said the probe was launched by the country’s Financial Crimes Investigation Board (MASAK).
Türkiye launched an investigation on Samuel Bankman-Fried, former CEO of cryptocurrency exchange FTX, over fraud allegations https://t.co/nZpHfBlWBo pic.twitter.com/schk5TMgoO— ANADOLU AGENCY (@anadoluagency) November 23, 2022
Nebati emphasized that the cryptocurrency market should be addressed with “maximum caution” due to the risks and opportunities that digitalization has brought.
In the course of the inquiry, Turkish authorities also seized the assets of Bankman-Fried and its affiliates.
As measured by daily trading volume, FTX was the third-largest cryptocurrency exchange in the world. However, liquidity issues led to the company filing for bankruptcy earlier this month. Although Sam Bankman-Fired had apologized to investors in a series of tweets, cryptocurrencies have fallen significantly due to the financial turmoil and perceived risks of investors.
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