{"id":14799,"date":"2022-11-25T05:02:19","date_gmt":"2022-11-25T05:02:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/turkey-investigates-former-ftx-ceo-sam-bankman-fried-for-fraud-seizes-assets-exchanges-bitcoin-news\/"},"modified":"2022-11-25T05:02:19","modified_gmt":"2022-11-25T05:02:19","slug":"turkey-investigates-former-ftx-ceo-sam-bankman-fried-for-fraud-seizes-assets-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/turkey-investigates-former-ftx-ceo-sam-bankman-fried-for-fraud-seizes-assets-exchanges-bitcoin-news\/","title":{"rendered":"Turkey Investigates Former FTX CEO Sam Bankman-Fried for Fraud, Seizes Assets \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The Turkish government has launched an investigation on the former chief executive of failed cryptocurrency exchange FTX, Sam Bankman-Fried. According to local media, the authorities in Ankara have also seized assets belonging to the founder of the troubled coin trading platform. <\/strong><\/p>\n

Turkey\u2019s Financial Intelligence Unit Initiates Another FTX-Related Probe<\/h2>\n

Financial regulators in Turkey have started to investigate the founder and former CEO of cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), for alleged fraud. The move follows the initiation in mid-November of a probe<\/a> into the collapse of the company, which also operated a Turkish platform.<\/p>\n

Both investigations are led by the country\u2019s Financial Crimes Investigation Board (MASAK), a department under the Ministry of Treasury and Finance. As part of them, the authorities have seized assets of SBF and other affiliates, the Anadolu Agency reported on Wednesday.<\/p>\n

Commenting on the case, Turkey\u2019s Finance Minister Nureddin Nebati highlighted the risks that digitalization has brought along with opportunities, warning that the cryptocurrency market should be approached with \u201cmaximum caution.\u201d<\/p>\n

Amid skyrocketing inflation<\/a> of the national fiat currency, the lira, many Turks put money into crypto assets in the past few years to preserve their savings. However, the failures<\/a> of domestic trading platforms and scams<\/a>, as well as the ongoing crypto winter, have hurt Turkish investors.<\/p>\n

FTX, which was one of the world\u2019s top crypto exchanges, filed<\/a> for Chapter 11 bankruptcy protection in the U.S. on Nov. 11, after struggling with liquidity issues, and is now under voluntary administration. Bankman-Fried resigned and the group\u2019s new management fired<\/a> three other top executives.<\/p>\n

Besides Turkey, the FTX group of companies is now under investigation in a number of other jurisdictions, including the United States<\/a>, the Bahamas<\/a>, where it was headquartered, and Japan<\/a>. The exchange and its subsidiaries have also seen their licenses suspended<\/a> in multiple markets. According to a recent report<\/a>, the Bahamas authorities may extradite SBF to the U.S. for questioning.<\/p>\n

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Bankruptcy<\/a>, board<\/a>, ceo<\/a>, collapse<\/a>, Crypto<\/a>, crypto assets<\/a>, crypto exchange<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Exchange<\/a>, financial intelligence<\/a>, ftx<\/a>, Investigation<\/a>, probe<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, Seizure<\/a>, Turkey<\/a>, Turkish<\/a>, unit<\/a><\/div>\n<\/div>\n

Do you expect financial authorities in other countries to investigate former FTX CEO Sam Bankman-Fried? Tell us in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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