Bahamas Securities Regulator Holds FTX Assets Worth $3.5B
In mid-November, the Securities Commission of The Bahamas announced that it ordered all contents of FTX ’s crypto wallets to be transferred to a wallet controlled by it. Per the commission, “urgent interim regulatory action” was important to “protect the interests of clients and creditors.” The securities regulator also stated that it will engage with other regulators and authorities in multiple jurisdictions going forward to address matters affecting the creditors, clients, and stakeholders of FTX Digital Markets [FDM] globally to obtain “the best” possible outcome. Read More: Bahamas Securities Regulator Takes Full Control of FTX’s Digital Assets Regulator Looking To Deliver FTX Assets To Customers, Creditors The regulator reaffirmed on Thursday that it is holding the company’s assets worth $3.5 billion on a temporary basis. Specifically, the pricing is based on the market rate at the time of transfer. The commission ...