Türkiye seizes assets of FTX's former CEO, affiliates

Nov 24, 2022

Ankara [Turkey], November 24: Turkish authorities have seized the assets of FTX's former CEO Sam Bankman-Fried amid a probe into the major cryptocurrency exchange, the Turkish Financial Crimes Investigation Board (MASAK) said on Wednesday.
Assets of FTX affiliates have been seized as well, said the MASAK statement, adding its investigation has found "strong criminal suspicion" of FTX's misconduct in the crypto-assets market, including fabricating buying and selling transactions, MASAK said in a statement.
MASAK added the company is also highly suspicious of transferring clients' trust assets to other parties through irregular transactions.
The Bahamas-based FTX announced on Nov. 11 that the company and its branches had filed for bankruptcy in the United States. On the same day, its founder and chief executive Bankman-Fried resigned.
The crypto trading platform, which once had 32 billion U.S. dollars in valuation, encountered a liquidity squeeze a few days ago after a shortfall of around 8 billion dollars was revealed.
FTX's blowup has left huge losses in several institutional investment houses and triggered probes in several countries, with a focus on the misuse of clients' funds to trade at Alameda Research, a crypto trading firm owned by Bankman-Fried.
Source: Xinhua

More news

Tyke - Ushering in a New Era of Startup Investment Oppotunity via CSOPs

New Delhi [India], September 26: Tyke Technologies Private Limited, a pioneering fintech firm that has successfully made Startup Investment accessible to a broader audience through its platform called, has witnessed over 120+ startups embracing its distinctive product called CSOP (Community Subscription Offer Plan), showcasing the increase in industry demand of Startup Investment and adoption of this innovative product by Consumers in India.

Sep 26, 2023