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.
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