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News

The Former CEO Of FTX Was Investigated For Fraud Allegations By Turkey

November 24, 2022 - Around 2 mins mins to read
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.
The Former CEO Of FTX Was Investigated For Fraud Allegations By Turkey

According to Anadolu Agency, Treasury and Finance Minister Nureddin Nebati said the probe was launched by the country’s Financial Crimes Investigation Board (MASAK).

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.

Bitcoin’s price dropped below $16,000 two weeks ago, giving up all of its gains from the previous two years, while the cryptocurrency market lost more than 20% of its worth in the previous two days amid the collapse.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News

# Cryptocurrencies

#Bitcoin

CEO FTX

FTX

Sam Bankman-Fried

SBF

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

The Former CEO Of FTX Was Investigated For Fraud Allegations By Turkey

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.
The Former CEO Of FTX Was Investigated For Fraud Allegations By Turkey

According to Anadolu Agency, Treasury and Finance Minister Nureddin Nebati said the probe was launched by the country’s Financial Crimes Investigation Board (MASAK).

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.

Bitcoin’s price dropped below $16,000 two weeks ago, giving up all of its gains from the previous two years, while the cryptocurrency market lost more than 20% of its worth in the previous two days amid the collapse.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News

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