The Bahamian Securities Commission has taken custody of FTX deposits valued at more than $3.5 billion as of Nov. 12, according to a media release published late Thursday by the BSC.
Assets will be held until the Bahamas Supreme Court directs the Commission to deliver them to the customers and creditors who own them, the statement says.
The Commission said that FTX founders Sam Bankman-Fried and Gary Wang no longer had access to the $3.5 billion in tokens that were transferred.
In the media statement, the Commission reiterated that it did not direct FTX to prioritize the withdrawals of Bahamas-based clients.
(By Sam Reynolds)
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