Bahamas regulators verify they’re keeping some of FTX’s property

Bahamas regulators verify they’re keeping some of FTX’s property


FTX emblem with crypto cash with 100 Greenback bill are displayed for illustration. FTX has submitted for individual bankruptcy in the US, trying to find court security as it seems to be for a way to return dollars to consumers.

Jonathan Raa | Nurphoto | Getty Photographs

Securities regulators in the Bahamas conceded that they purchased the transfer of FTX electronic assets from company wallets into their own custody, citing the authority granted to them by the Supreme Courtroom of the Bahamas and demanding FTX’s assertion that the U.S. Chapter 11 personal bankruptcy procedures utilized to them.

In a push assertion Thursday evening, the Securities Fee of the Bahamas (SCB) mentioned it had exercised “its powers as a regulator” and directed the transfer of “all digital assets” of FTX Electronic Marketplaces, a Bahamian subsidiary of the FTX empire.

The benefit of the assets is not known. Crypto study company Elliptic, nevertheless, believes that the $477 million theft documented around this weekend was tied to moves by Bahamian regulators.

Statements from both the Bahamas and U.S. attorneys propose “that the ‘hack’ was essentially the seizure of FTX assets by the Bahamian authorities,” Elliptic wrote.

The filing struck again at an emergency submitting by FTX in U.S. courtroom which challenged the standing of the Bahamian liquidators and questioned the Delaware Individual bankruptcy Courtroom to intervene and implement an automatic keep, a common function of Chapter 11 bankruptcy proceedings.

New FTX CEO scorches SBF in bankruptcy filing, and celebrities sued over FTX ads: CNBC Crypto World

That filing accused the Bahamian government of seizing FTX assets and going them into their very own custody, an accusation borne out by the SCB’s personal statement.

Sam Bankman-Fried, founder and previous CEO of FTX and the ex-the greater part owner of a intricate website of FTX-Alameda Exploration subsidiaries, was accused by FTX’s lawyers of performing with Bahamian regulators to move digital assets out of FTX’s custody and into a Fireblocks asset custody account.

Bankman-Fried was successfully in the custody of the Bahamian government, the FTX submitting observed.

“It is not the knowledge of the Fee that FDM [FTX Digital Markets] is a get together to the US Chapter 11 Personal bankruptcy proceedings,” the Bahamian regulator’s launch go through.

Bankman-Fried, securities regulators and FTX’s legal professionals have not nonetheless responded to requests for remark.

CNBC’s Mackenzie Sigalos contributed to this report.





Resource

Bitcoin rises to fresh record above 2,000, helped by Nvidia-led tech rally
Technology

Bitcoin rises to fresh record above $112,000, helped by Nvidia-led tech rally

The logo of the cryptocurrency Bitcoin can be seen on a coin in front of a Bitcoin chart. Silas Stein | Picture Alliance | Getty Images Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped push the price of the cryptocurrency higher into the stock market close. The price […]

Read More
Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates
Technology

Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates

The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025. Julian Stratenschulte | Picture Alliance | Getty Images Amazon said Wednesday that its cloud division has developed hardware to cool down next-generation Nvidia graphics processing units […]

Read More
Perplexity launches AI-powered web browser for select group of subscribers
Technology

Perplexity launches AI-powered web browser for select group of subscribers

Perplexity AI on Wednesday launched a new artificial intelligence-powered web browser called Comet in the startup’s latest effort to compete in the consumer internet market against companies like Google and Microsoft. Comet will allow users to connect with enterprise applications like Slack and ask complex questions via voice and text, according to a brief demo […]

Read More