The Securities Commission of The Bahamas (SCB) released a statement on Monday to defend itself against the “material misstatements” made by the newly appointed FTX Chief Executive, John Ray, who is overseeing the bankruptcy proceedings of the collapsed cryptocurrency exchange.
The statements came in response to Ray’s challenge against calculating the digital assets held by the Bahamas regulator, which belonged to FTX customers. The SCB last week revealed that it is holding $3.5 billion in digital assets that it obtained from the local entity of FTX with a court order. It said that the challenge to the calculation of digital assets was based on incomplete information.
The Bahamas regulator further challenged Ray’s allegations on its order to mint $300 million worth of FTT tokens and also the SCB-held tokens of FTX being stolen.
(By Arnab Shome)
Related News:
Bahamas Regulator Fires Back in Ongoing Feud With New FTX Leadership
Sam Bankman-Fried’s Alameda Research Troubles Predate FTX: Report
FTX Says Bahamas Regulators Hold $167M USD, Shares Wallet Address
Bahamas Security Commission Instructed Sam-Bankman Fried to Surrender $300 Million
Regulators in the Bahamas Are Holding $3.5 Billion in FTX Customer Assets
All Comments