Amid the issues plaguing cryptocurrency change FTX, the Securities Fee of the Bahamas (SCB) has frozen the agency’s belongings.
The Bahamian regulator additionally received the courtroom to nominate a provisional liquidator for FTX.
- In a press release posted by Nassau Guardian by way of Twitter on Thursday (November 10, 2022), the Fee revealed it had frozen belongings of FTX Digital Markets (FDM) “and associated events.”
- Again in September 2021, FTX CEO Sam Bankman-Fried announced that the corporate’s headquarters can be within the Bahamas.
- An excerpt from the announcement reads:
“The Fee is conscious of public statements suggesting that shoppers’ belongings had been mishandled, mismanaged and/or transferred to Alameda Analysis. Based mostly on the Fee’s data, any such actions would have been opposite to regular governance, with out consumer consent and doubtlessly illegal.”
- The Bahamian regulatory watchdog additionally sought the appointment of a provisional liquidator for FTX from the nation’s Supreme Courtroom, with Brian Simms, an lawyer, appointed by the courtroom.
- Subsequently, the change’s belongings can’t be transferred or assigned with out written approval from the provisional liquidator.
- In response to the press launch, the most recent string of unlucky occasions concerning the crypto change precipitated the company to take “a prudent reason behind motion” by placing the beleaguered agency “into provisional liquidation to protect belongings and stabilize the corporate.”
- Along with freezing belongings, the Fee additionally suspended FTX’s registration course of.
- The newest improvement comes as FTX is battling a liquidity disaster. As lately reported by CryptoPotato, CEO Sam Bankman-Fried tendered an official apology, pledging to “do proper by customers.”
- Bankman-Fried additionally revealed that he’s discussing with some gamers within the trade after main rival Binance backed out of an acquisition deal.
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