- Regulators in the Bahamas stood by their estimate on the $3.5 billion in crypto belongings they seized from FTX.
- They rejected FTX’s promises that the property are really worth just $296 million.
- “These kinds of general public assertions by the Chapter 11 debtors ended up based mostly on incomplete information,” the SCB claimed.
Regulators in the Bahamas are standing by their estimate of crypto belongings seized from FTX, indicating they are worth extra than $3.5 billion.
The Securities Commission of the Bahamas pushed again versus FTX’s personal valuation of $296 million, stating “These kinds of public assertions by the Chapter 11 debtors ended up primarily based on incomplete information and facts.”
The SCB explained last thirty day period that it seized the FTX shopper property briefly, transferring them to digital wallets below the control of regulators on November 12, a day following FTX filed for individual bankruptcy.
Related Post
The move was aimed at safeguarding the belongings, the regulator reported, following more than $370 million ended up reportedly stolen from the crypto trade in an apparent cyber attack just after the company went bust.
Regulators and FTX have been sparring about the SCB’s try to liquidate FTX Electronic Markets and have sought information to expedite the approach, but the company’s bankruptcy group has pushed back versus the exertion.
In the meantime, FTX founder and former chief govt Sam Bankman-Fried is established to be arraigned in court on Tuesday in Manhattan federal courtroom.
Bankman-Fried is facing allegations of fraud in conjunction with mishandling consumer funds on FTX that were being suspected to be commingled with buying and selling organization Alameda Study.
