According to CoinMeta, the head of Turkey's banking regulatory agency, Sahap Kavcioglu, has requested that Erdogan accept his resignation due to the expanding investigation into a scandal involving investment funds, with senior regulators and financial officials becoming the focus of the probe. Kavcioglu stated that, in light of recent allegations against the banking regulatory and supervisory authorities as well as himself, he has asked to be removed from his position to avoid further damage to the agency. It is not yet clear whether the president has accepted his resignation. Kavcioglu himself has not been accused of any improper conduct, and the regulatory agency has not immediately responded to requests for comment. The investigation, which involves investment funds suspected of market manipulation, has expanded to include political figures and senior financial officials in recent weeks. Those arrested include a vice chairman of Erdogan's ruling Justice and Development Party, the former CEO of Turkey's stock exchange, the former CEO of a securities depository institution Takasbank, and a deputy head of the banking regulatory agency BDDK.