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Turkey Seizes Assets of FTX Founder Sam Bankman-Fried

Finance

u.today 23 November 2022 18:07, UTC
  
Reading time: ~2 m

Turkish authorities have seized the assets of seizes assets of former FTX CEO Samuel Bankman-Fried, according to a report by Anadolu Agency.

The Ankara-based state-run news agency has added that the assets of FTX affiliates have been confiscated as well amid an investigation over fraud allegations. The new probe launched by launched by the Financial Crimes Investigation Board (MASAK).

In his statement, Treasury and Finance Minister Nureddin Nebati said that the cryptocurrency market had to be treated with "maximum caution," arguing that this sector brings both new risks and opportunities.

The sudden downfall of the FTX empire has prompted calls for more stringent cryptocurrency regulation.

FTX TR, a subsidiary located in Turkey, is part of Bankman-Fried failed cryptocurrency empire.


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