Türkiye launched an investigation on Samuel Bankman-Fried, former CEO of cryptocurrency trade FTX, over fraud allegations, the nation’s Treasury and Finance Ministry introduced on Wednesday.
Turkish authorities additionally seized the property of Bankman-Fried and different associates amid the investigation.
Treasury and Finance Minister Nureddin Nebati stated the probe was launched by the nation’s Financial Crimes Investigation Board (MASAK).
Underlining the dangers that digitalization has introduced together with alternatives, Nebati stated the cryptocurrency market ought to be approached with “maximum caution.”
FTX, which was the world’s third-largest cryptocurrency trade by day by day buying and selling quantity, filed for chapter earlier this month on account of liquidity struggles.
While Bankman-Fried later apologized to buyers in a collection of tweets, cryptocurrencies have since been in freefall as a result of monetary turmoil and perceived dangers of buyers.
The worth of Bitcoin dove under $16,000 two weeks in the past, giving up all positive aspects of the previous two years, whereas the crypto market misplaced greater than 20% in worth within the final two days amid the meltdown.
