Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Authorities in Turkey Seize FTX Founder Sam Bankman-Fried’s Assets

by
November 25, 2022
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

The bull case for Saudi Arabia stocks is growing, but risks remain

Crypto bill from Republicans lays out clear roles for SEC and CFTC

S&P Futures

4,036.00

+3.00(+0.07%)

 

Dow Futures

34,256.00

+45.00(+0.13%)

 

Nasdaq Futures

11,844.50

-18.25(-0.15%)

 

Russell 2000 Futures

1,869.40

+3.00(+0.16%)

 

Crude Oil

79.15

+1.21(+1.55%)

 

Gold

1,747.90

+2.30(+0.13%)

 

Silver

21.22

-0.15(-0.71%)

 

EUR/USD

1.0368

-0.0044(-0.43%)

 

10-Yr Bond

3.7330

+0.0270(+0.73%)

 

Vix

20.67

-0.62(-2.91%)

 

GBP/USD

1.2060

-0.0054(-0.44%)

 

USD/JPY

139.4770

+0.8870(+0.64%)

 

BTC-USD

16,515.01

-39.36(-0.24%)

 

CMC Crypto 200

386.22

+3.64(+0.95%)

 

FTSE 100

7,481.45

+14.85(+0.20%)

 

Nikkei 225

28,283.03

-100.06(-0.35%)

 

Amid a probe into the collapse of the FTX cryptocurrency exchange, Turkish authorities have seized the assets of Sam Bankman-Fried and other affiliates, the Turkish Treasury and Finance Ministry announced on Wednesday.

An inquiry into claims of fraud against the FTX former CEO Bankman-Fried has been opened as well, according to the statement.

The move follows last week’s initiation of a probe into the collapse of the exchange, which ran a local subsidiary called FTX Turkey.

Turkey Forces Crypto Exchanges to Report More Customer Information

Along with FTX, the agency is also looking into individuals and companies associated with the exchange, including financial institutions and crypto asset service providers.

Both investigations, launched under the country’s anti-money laundering laws, are led by the country’s Financial Crimes Investigation Board (MASAK), a department under the Ministry of Treasury and Finance.

The Turkish government added cryptocurrency exchanges to the list of entities subject to the country’s anti-money laundering and terrorism financing (AML / TF) regulations in May 2021.

FTX, once the third-largest crypto exchange by trading volume, filed for Chapter 11 bankruptcy protection in the U.S. on November 11, after running into liquidity issues, and is now under voluntary administration.

The exchange was allegedly using client money to make risky investment bets through Alameda Research, a trading firm founded by Bankman-Fried.

Bankman-Fried resigned as CEO on the same day as well and is currently in the Bahamas, where his parents and senior executives of the failed cryptocurrency exchange reportedly bought property worth $121 million using customers’ funds.

FTX Bankruptcy Hearing: Bahamas Liquidators Transfer Case to Delaware, Creditor Names Remain Redacted

Earlier this week, the judge overseeing the FTX case agreed to formally move a Chapter 15 bankruptcy case filed by Bahamian liquidators from New York to Delaware while keeping the names and addresses of the top 50 creditors—owed approximately $3.1 billion—redacted.

According to James Bromley, counsel to FTX’s new management, there was a “lack of corporate controls” at the exchange, with Bankman-Fried using FTX as his “personal fiefdom.”

Advertisement

ShareTweetPin

Related Posts

The bull case for Saudi Arabia stocks is growing, but risks remain

by
June 2, 2023
0

There's a burgeoning bull case for Saudi Arabia stocks. The iShares MSCI Saudi Arabia ETF (KSA) is up more than...

Crypto bill from Republicans lays out clear roles for SEC and CFTC

by
June 2, 2023
0

Rep. Patrick McHenry, a Republican of North Carolina and ranking member of the House Financial Services Committee, speaks during a...

Google says Gmail on your phone just got a lot faster thanks to A.I.

by
June 2, 2023
0

In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Sundar Pichai, CEO, Alphabet Inc., during the Google I/O developers...

How Nvidia’s rise has changed the biggest momentum ETF

by
June 2, 2023
0

The excitement around artificial intelligence that sent Nvidia and a few other tech stocks soaring in the first half of...

West Coast ports shut down as union workers ‘no show’ after breakdown in wage negotiations

by
June 2, 2023
0

West Coast ports are shutting down as union workers "no show" after a breakdown in negotiations with port management. The...

Next Post

Tech's reality check: How the industry lost $7.4 trillion in one year

Inflation boosts U.S. household spending by $433 a month, on average, Moody's finds

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net