The Bahamas Securities Commission announced on Thursday that it is temporarily holding FTX assets worth $3.5 billion based on market pricing at the time of transfer in order to deliver them to customers and creditors who own them.
The digital assets of FTX's Bahamas unit were transferred to digital wallets under the sole control of the commission in November, shortly after the company, its hedge fund Alameda Research, and dozens of affiliates filed for US bankruptcy.
The commission's executive director, Christina Rolle, stated in an affidavit filed with the Bahamas Supreme Court that once the transfer was completed, FTX founders Sam Bankman-Fried and Gary Wang no longer had access to the tokens that were transferred or frozen.
"All transferred assets were and remain under the sole control of the commission," Rolle said.
FTX's lawyers earlier this month objected to a request for internal records from its Bahamian subsidiary, saying they "do not trust" the Bahamian government with data that could be used to siphon assets from the bankrupt company.
Soon after the company declared bankruptcy, the authorities in the Bahamas, where it had its headquarters, appointed liquidators to wind down FTX's international trading business.
(Source:www.reuters.com)
The digital assets of FTX's Bahamas unit were transferred to digital wallets under the sole control of the commission in November, shortly after the company, its hedge fund Alameda Research, and dozens of affiliates filed for US bankruptcy.
The commission's executive director, Christina Rolle, stated in an affidavit filed with the Bahamas Supreme Court that once the transfer was completed, FTX founders Sam Bankman-Fried and Gary Wang no longer had access to the tokens that were transferred or frozen.
"All transferred assets were and remain under the sole control of the commission," Rolle said.
FTX's lawyers earlier this month objected to a request for internal records from its Bahamian subsidiary, saying they "do not trust" the Bahamian government with data that could be used to siphon assets from the bankrupt company.
Soon after the company declared bankruptcy, the authorities in the Bahamas, where it had its headquarters, appointed liquidators to wind down FTX's international trading business.
(Source:www.reuters.com)
