The Securities Commission of the Bahamas said Thursday the agency seized all digital assets under the control of FTX's Bahamian subsidiary FTX Digital Markets Ltd. — to the tune of more than $3.5 billion — "for safekeeping" following the cryptocurrency exchange's collapse.
The regulator said in a press release that the funds were transferred to digital wallets under its exclusive control on Nov. 12, the day after FTX filed for Chapter 11 bankruptcy, after determining "there was a significant risk of imminent dissipation" of the assets under FTXDM's control based on information disgraced founder Sam Bankman-Fried provided concerning cyberattacks on the system. . . .
>The Securities Commission of the Bahamas said Thursday the agency seized all digital assets under the control of FTX's Bahamian subsidiary FTX Digital Markets Ltd. — to the tune of more than $3.5 billion — "for safekeeping" following the cryptocurrency exchange's collapse.
>The regulator said in a press release that the funds were transferred to digital wallets under its exclusive control on Nov. 12, the day after FTX filed for Chapter 11 bankruptcy, after determining "there was a significant risk of imminent dissipation" of the assets under FTXDM's control based on information disgraced founder Sam Bankman-Fried provided concerning cyberattacks on the system.
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https://www.foxbusiness.com/markets/bahamian-government-seized-three-point-five-billion-ftx-funds-safekeeping
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