1 year ago
The Bahamas Securities Commission has frozen the assets of FTX Digital Markets and related parties. The fiscal regulator said the prudent people of enactment is to enactment the crypto steadfast “into provisional liquidation to sphere assets and stabilize the company.”
Bahamas Securities Regulator Takes Action Against FTX
The Securities Commission of the Bahamas announced Thursday that it has taken enactment to “freeze assets of FTX Digital Markets and related parties.” FTX Digital Markets is the Bahamian subsidiary of Sam Bankman-Fried’s FTX Trading Ltd., which owns and operates crypto trading level FTX.com.
The regulator added that it has besides “suspended” the firm’s registration and “applied to the Supreme Court of the Bahamas for the assignment of a provisional liquidator of FTX Digital Markets Ltd. (FDM).” Brian Simms, an lawyer with Lennox Paton, has been appointed arsenic the provisional liquidator.
The Bahamian Securities Commission further explained:
The powers of the directors of FDM person been suspended and nary assets of FDM, lawsuit assets oregon spot assets held by FDM, tin beryllium transferred, assigned, oregon different dealt with, without the written support of the provisional liquidator.
Furthermore, the securities watchdog revealed that it is “aware of nationalist statements suggesting that the clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research,” noting that “any specified actions would person been contrary to mean governance, without lawsuit consent, and perchance unlawful.”
The Bahamian securities regulator emphasized that since the unfolding of events involving FDM, it “has proactively dealt with the concern and continues to bash so,” elaborating:
The Commission determined that the prudent people of enactment was to enactment FDM into provisional liquidation to sphere assets and stabilize the company.
In the U.S., the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) are reportedly investigating FTX.
Bankman-Fried said Thursday that Alameda Research is winding down trading. He reportedly told FTX.com investors that his institution needs a currency injection oregon it whitethorn request to record for bankruptcy. According to reports, helium is seeking to rise up to $9.4 billion.
What bash you deliberation astir the Bahamas Securities Commission freezing FTX’s assets? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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