The agency will look into people, institutions, banks and crypto service providers related to FTX, the notice said. This may include local subsidiary FTX Turkey, which is listed among 134 entities tied to Sam Bankman-Fried's FTX.com that are now seeking protection from bankruptcy in the U.S.
With the investigation, Turkey – a fast-growing crypto market – is joining jurisdictions such as the U.S. and the Bahamas (where the global business had its headquarters), in probing Sam Bankman-Fried's crypto enterprise. News of investigations comes after a tumultuous week filled with a failed acquisition deal, rumors, a voluntary petition for insolvency and a $600 million hack of the embattled exchange.
Meanwhile, FTX Turkey has been working to process customer withdrawals within certain limits. The subsidiary told CoinDesk Turkey that its goal is to get all customer funds returned.
"Even during the technical difficulties caused by FTX.com, the FTX TR [Turkey] team worked hard not to victimize the users by giving their best and continues to work. Sharing transparent information about the process from its social media accounts, we manage this process professionally and in a way that does not harm its users,” FTX Turkey said.
CoinDesk reported last week that many of the 134 entities listed in the FTX bankruptcy petition learned of the filing at the same time as the public did. One source told CoinDesk at the time that FTX Turkey was hit particularly hard, with staff in Turkey having put their paychecks and bonuses into the company because of a distrust of local banks and inflation of the lira.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.