Cointime

Cointime

Download App
iOS & Android

Turkey Is Investigating SBF for Fraud and Has Seized FTX Assets in the Country—Report

Cointime Official

Turkey’s Treasury and Finance Ministry is reportedly investigating Sam Bankman-Fried (SBF) for fraud and has seized assets linked to FTX within the country.

Scrutiny into the business activities of FTX and its former CEO, Sam Bankman-Fried, continues to widen globally.

According to Turkey’s news platform Anadolu Agency, the country has launched an investigation on the founder and former CEO of FTX, Sam Bankman-Fried, over potential fraudulent activities. The probe was announced by Turkey’s Treasury and Finance Ministry on Wednesday.

The report by Anadolu Agency added that Turkish authorities had seized assets belonging to ‘Sam Bankman-Fried, and affiliates’ as part of the investigations.

Nureddin Nebati, the Treasury and Finance Minister, said that the investigations were launched by the country’s Financial Crimes Investigation Board (MASAK). Minister Nebati also pointed out that although digital assets brought opportunities, the industry still had underlying risks, and the crypto markets should be approached with ‘maximum caution.’

Authorities in Turkey Could be Trying to Make FTX Make Users Whole — Autism Capital

At the time of writing, the crypto Twitter community is already musing on the reasons why authorities in Turkey have launched an investigation into Sam Bankman-Fried and seized assets linked to the exchange.

One theory being proposed by the team at Autism Capital is that the Treasury and Finance Ministry is aiming to get FTX’s subsidiary in the country to make whole all Turkish users affected by the collapse of the crypto exchange and its halting of operations worldwide.

The Autism Capital team has since updated the Tweet with sources confirming that FTX had an entirely separate entity operating in Turkey ‘for regulatory reasons.’ Its employees also lost their life savings when it collapsed.

Another source claimed that FTX Turkey made users whole by refunding users’ funds back to their bank accounts. They added that only users who used the FTX Turkey platform were made whole, not those who used FTX international, as explained in the screenshot below.

（By John P. Njui）

FTX
Comments

All Comments

Recommended for you

  • BTC Surpasses $64,000

    Market data shows that BTC has surpassed $64,000, currently priced at $64,000.4, with a 24-hour increase of 0.29%. Due to significant market fluctuations, please ensure proper risk management.

  • US Spot Bitcoin ETF Sees Net Outflow of $61.1 Million Yesterday

    On August 13, according to monitoring data from Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $61.1 million yesterday.

  • US Spot Ethereum ETF Sees $7.4 Million Net Inflow Yesterday

    On August 13, according to data monitored by Farside Investors, the US spot Ethereum ETF recorded a net inflow of $7.4 million yesterday.

  • CFTC Warns Prediction Markets: Trader Incentive Programs May Encourage False Trading and Market Manipulation

    On August 13, the U.S. Commodity Futures Trading Commission (CFTC) Market Oversight Division issued a regulatory advisory reminding designated contract markets (DCM) of their regulatory obligations when self-certifying market maker, liquidity, trading, or incentive programs under CFTC Rules 40.5 and 40.6. The advisory addresses the increasing number of incentive program rule filings submitted under CFTC Rule 40.6(a), particularly those related to event contract products. The CFTC noted that some of these filings contain procedural or substantive deficiencies. These deficiencies may hinder staff's ability to assess whether the DCM has adequately notified the terms of the programs and whether it has sufficiently evaluated the compliance of the relevant programs with core principles and other regulatory requirements of the Commission. The guidance clarifies staff expectations regarding the procedural and substantive requirements when submitting materials under CFTC Rules 40.5 and 40.6, including initial submissions of incentive programs, amendments or changes to relevant programs, and submission procedures.

  • Metaplanet CEO: Transfer of 5,014 BTC Between Custodial Addresses is Routine, No Sale Made

    On August 13, Cointelegraph reported that Metaplanet CEO Simon Gerovich stated that the company's transfer of 5,014 BTC between custodial addresses is a routine operation. He emphasized, 'No Bitcoin has been sold, and the company's holdings remain at 43,000 BTC.'

  • Bullish Sentiment in Bond Market Rises as 10-Year Treasury Yield Falls Below 1.7%

    On August 13, the domestic bond market has seen a continued rise in bullish sentiment, with long-term rates experiencing a significant breakthrough. Market data shows that after fluctuating around 1.7% for several days, the yield on the 10-year Treasury bond fell below the 1.7% mark again on August 12, closing at 1.694%. Meanwhile, the yield on the 30-year Treasury bond also declined, closing at 2.160%, marking a low for the year. Industry insiders believe that the current bond market trend is driven by multiple factors including expectations of loose monetary policy, a balanced and relaxed funding environment, and institutional investors increasing their positions. However, after the key level was breached, the market's bullish and bearish dynamics intensified, and the effective conditions for a sustained downward trend in interest rates still need further validation.

  • NVIDIA Shares Rise Over 3%

    On August 12, NVIDIA's stock price increased by 3.35%, reaching $224.80 per share, the highest level in two months, with a total market capitalization of $5.44 trillion.

  • Trump: The U.S. Has Complete Control Over the Strait of Hormuz

    On August 12, U.S. President Trump posted: "The United States has complete control over the Strait of Hormuz. I believe we will continue to maintain that control! Our maritime blockade is referred to by everyone as a 'steel wall,' and Iran is powerless against it. They have no navy, no air force, and their remaining soldiers have not been paid. The Revolutionary Guard has been severely damaged and is in retreat, while their 'leadership' can at best be described as uncertain! They have no funds—this country is already 'full of holes.' All they have are fake news and 300% inflation, and the situation is worsening! Iran is now just talk without action, no longer the bully of the Middle East!"

  • Semiconductor Equipment Sector Continues Uptrend, Aehr Test Systems Rises Over 11%

    On August 12, the semiconductor equipment sector continued its upward trend, with Aehr Test Systems rising over 11%. Teradyne increased by over 6%, while Lam Research, Ichor Holdings, and Applied Materials each rose over 4%. KLA gained over 3%, and ASML and Ambarella both rose over 1%. In news, Aehr Test Systems announced a follow-up mass production order worth $22 million from its leading wafer-level AI processor customer. In industry news, Bernstein released a research report raising its forecast for wafer fabrication equipment (WFE) spending, citing increased confidence in the ongoing upcycle. The firm raised its 2026 WFE spending forecast to $148 billion, a 26.3% year-on-year increase; the 2027 forecast was raised to $204 billion, a 32.6% year-on-year increase; and the 2028 forecast was raised to $259 billion, a 27% year-on-year increase.

  • Lightspeed Plans to Raise $600 Million for Secondary Fund to Invest in OpenAI and Anthropic

    On August 12, Bloomberg reported that Lightspeed Venture Partners is seeking to raise approximately $600 million through secondary transactions to extend its investment exposure to OpenAI and other artificial intelligence companies, as well as to increase its investment in AI model company Anthropic. According to insiders, this fundraising effort is internally codenamed 'Project Mercury' and involves multiple secondary funds under Lightspeed, including the Select V Fund, Opportunity II Fund, and certain assets in a separately managed account. Lightspeed aims to provide liquidity to investors through secondary market transactions while maintaining long-term holdings in leading companies in the AI sector.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company