World

Bahamas Regulator Holds FTX Assets Pending Delivery To Customers


The Bahamas Regulator holds FTX assets pending delivery to customers

FTX attorneys have objected to requests for internal records from their Bahamian business. (Represent)

The Securities Commission of the Bahamas said on Thursday that it is holding $3.5 billion worth of FTX assets based on market value at the time of transfer on an interim basis to deliver them to customers and creditors. own them.

The digital assets of the Bahamas unit of FTX were moved to a digital wallet under the exclusive control of the commission in November shortly after the company and hedge fund Alameda Research and dozens of affiliates filed an application. bankruptcy in the United States.

The commission’s CEO, Christina Rolle, said that upon completion of the transfer, FTX founders Sam Bankman-Fried and Gary Wang no longer have access to the transferred or frozen tokens. .

“All assets transferred were and remain under the sole control of the commission,” said Rolle.

Lawyers for crypto exchange FTX earlier this month countered requests for internal records from their Bahamian business, saying they “don’t trust” the Bahamian government with the data. can be used to extract assets from bankrupt companies.

Authorities in the Bahamas, where the company is headquartered, appointed liquidators to terminate FTX’s international trading business shortly after the company declared bankruptcy.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

Featured video of the day

“World’s Greatest Grief”: Remembrance after the death of Prime Minister Modi’s mother

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button