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You are here: Home1 / Bahamas Regulator Moves FTX Funds To Digital Wallet

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BAHAMAS REGULATOR MOVES FTX FUNDS TO DIGITAL WALLET



The Bahamas regulator, to which FTX Digital Markets is affiliated, announced on
November 12 that the company has moved all its digital assets to a wallet it
controls.

While the debate on whether the bankrupt FTX case should continue in the US or
the Bahamas, an important statement came from the Bahamas Securities and
Exchange Commission yesterday. The regulator informed that all digital assets
belonging to FTX Digital Markets company have been moved to a digital wallet
controlled by the institution. As it is known, assets mysteriously started to
exit FTX accounts on November 11. Underlying this move, the commission said in a
statement, “the urgent need for action to be taken to protect the rights of user
funds, investor assets and company shareholders.”

In the first hearing of the bankruptcy case that started yesterday in the USA,
FTX’s lawyers accused Sam Bankman-Fried of undermining the case. Lawyers also
claim that the SBF put this plan in motion by keeping assets in the Bahamas. SBF
said in an interview yesterday that his biggest regret was to listen to others
and file for bankruptcy. The SBF also cursed US regulators.

The Bahamas Securities and Exchange Commission announced that it did not
participate in the discussions and did not understand why the bankruptcy case of
FTX DM should be brought to the United States and expressed its readiness to
cooperate: “The Commission is working with other jurisdictions regulators and
authorities to resolve the issue customers and shareholders are facing. ready to
meet and work together”

November 18, 2022/0 Comments/by ttcuser
Tags: bahamas, cryptocurrency, ftx

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ttcuser2022-11-18 21:58:312022-11-18 21:58:32Bahamas Regulator Moves FTX Funds
To Digital Wallet



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