{"id":70542,"date":"2022-11-24T14:00:20","date_gmt":"2022-11-24T12:00:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70542"},"modified":"2025-09-08T02:53:43","modified_gmt":"2025-09-07T23:53:43","slug":"bahamas-regulator-responds-to-ftx-allegations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bahamas-regulator-responds-to-ftx-allegations\/","title":{"rendered":"Bahamas regulator responds to FTX allegations"},"content":{"rendered":"<p>The Securities Commission of The Bahamas (SCB) rejected FTX&#8217;s allegations of unauthorized access to assets of the exchange&#8217;s Bahamian subsidiary.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Securities Commission of The Bahamas Statement on Transfer Motion In FTX Digital Markets Chapter 15 Proceedings. <a href=\"https:\/\/t.co\/CB5f7w1wGT\">https:\/\/t.co\/CB5f7w1wGT<\/a> <a href=\"https:\/\/t.co\/ZMqrbU6vhf\">pic.twitter.com\/ZMqrbU6vhf<\/a><\/p>\n<p>\u2014 Securities Commission of The Bahamas (@SCBgov_bs) <a href=\"https:\/\/twitter.com\/SCBgov_bs\/status\/1595617982637654017?ref_src=twsrc%5Etfw\">November 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On November 11, FTX Trading, Alameda Research and more than 130 affiliated entities <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">filed for bankruptcy<\/a> in Delaware under Chapter 11 of the U.S. Bankruptcy Code.<\/p>\n<p>On the same day SCB <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">froze the assets<\/a> of the Bahamas-registered subsidiary of the group \u2014 FTX Digital Markets (FDM). On November 15 the jurisdiction&#8217;s Supreme Court <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-court-approves-temporary-liquidators-for-ftx-digital-markets\">appointed temporary liquidators<\/a> for the unit.<\/p>\n<p>FDM immediately <a href=\"https:\/\/forklog.com\/en\/news\/ftx-bahamas-unit-seeks-chapter-15-bankruptcy-protection-in-the-united-states\">filed for creditor protection<\/a> in New York. The step was taken to avoid seizure of the company&#8217;s assets in the United States.<\/p>\n<p>FTX Trading <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">accused the Bahamian regulator of unauthorized access to the exchange&#8217;s assets<\/a>. A company spokesperson also noted that there were \u201ccryptic comments from authorities regarding actions concerning certain assets.\u201d<\/p>\n<p>SCB <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">measures to move funds<\/a> were undertaken &#8216;in the interests of FDM&#8217;s clients and creditors&#8217;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u041a \u0441\u043e\u0436\u0430\u043b\u0435\u043d\u0438\u044e, \u0432 \u0445\u043e\u0434\u0430\u0442\u0430\u0439\u0441\u0442\u0432\u0435 \u043d\u043e\u0432\u044b\u0439 CEO FTX Trading \u0438\u0441\u043a\u0430\u0437\u0438\u043b \u0441\u0432\u043e\u0435\u0432\u0440\u0435\u043c\u0435\u043d\u043d\u043e\u0441\u0442\u044c \u043f\u0440\u0438\u043d\u044f\u0442\u044b\u0445 \u043c\u0435\u0440 \u043d\u0435\u043f\u043e\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u0442\u0435\u043b\u044c\u043d\u044b\u043c\u0438 \u0438 \u043d\u0435\u0442\u043e\u0447\u043d\u044b\u043c\u0438 \u0443\u0442\u0432\u0435\u0440\u0436\u0434\u0435\u043d\u0438\u044f\u043c\u0438. \u042d\u0442\u043e \u043e\u0442\u043d\u043e\u0441\u0438\u0442\u0441\u044f \u0438 \u043a \u0442\u043e\u043c\u0443, \u0447\u0442\u043e \u0434\u043e\u043b\u0436\u043d\u0438\u043a\u0438 \u043f\u0440\u0435\u0434\u043f\u043e\u0447\u043b\u0438 \u043f\u043e\u043b\u0430\u0433\u0430\u0442\u044c\u0441\u044f \u043d\u0430 \u0437\u0430\u044f\u0432\u043b\u0435\u043d\u0438\u044f \u043b\u0438\u0446, \u043a\u043e\u0442\u043e\u0440\u044b\u0445 \u0441\u0430\u043c\u0438 \u0445\u0430\u0440\u0430\u043a\u0442\u0435\u0440\u0438\u0437\u043e\u0432\u0430\u043b\u0438 \u043a\u0430\u043a <a href=\"https:\/\/forklog.com\/en\/news\/ftxs-new-ceo-urges-not-to-rely-on-bankman-frieds-statements\">unreliable and compromised sources<\/a> \u0438\u043d\u0444\u043e\u0440\u043c\u0430\u0446\u0438\u0438\u00bb, \u2014 \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f \u0432 \u0437\u0430\u044f\u0432\u043b\u0435\u043d\u0438\u0438 \u041a\u043e\u043c\u0438\u0441\u0441\u0438\u0438.<\/p>\n<\/blockquote>\n<p>The regulator stressed that the aforementioned <a href=\"https:\/\/forklog.com\/en\/news\/ftx-ceo-accuses-former-leadership-of-favouring-alameda-research\">statement by the current head of the company<\/a> John Ray, and the exchange management&#8217;s reports of a <a href=\"https:\/\/forklog.com\/en\/news\/unknown-actors-moved-more-than-400-million-from-ftx-wallets\">hack<\/a>, only confirmed the correctness of the asset-protection actions taken.<\/p>\n<p>Against this backdrop, FTX filed a motion to transfer all remaining assets totaling about $740 million to custody with BitGo. On November 16 the companies signed the corresponding agreement, <a href=\"https:\/\/www.theblock.co\/post\/189667\/ftx-asks-court-to-let-bitgo-safeguard-its-assets-during-bankruptcy\">The Block<\/a> reports.<\/p>\n<p>FTX will make an upfront payment of $5 million, with monthly service fees estimated at $100,000.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe time has come to take a serious approach to ending anthropogenic catastrophes in the crypto industry. While you are destroying FTX&#8217;s subsidiary companies, those who used BitGo&#8217;s products remain solvent and safe,&#8221; said BitGo&#8217;s CEO Mike Belshe.<\/p>\n<\/blockquote>\n<p>In a note to staff, founder and former CEO Sam Bankman-Fried explained the causes of the collapse and <a href=\"https:\/\/forklog.com\/en\/news\/sam-bankman-fried-in-letter-to-former-colleagues-hints-at-a-possible-rescue-of-ftx\">did not rule out the possibility of restoring<\/a> the platform&#8217;s operations.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bahamas Securities Commission (SCB) rejected FTX&#8217;s allegations of unauthorized access to the assets of the exchange&#8217;s Bahamas-registered subsidiary.<\/p>\n","protected":false},"author":1,"featured_media":70543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1899,1236],"class_list":["post-70542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bahamas","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70542"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70542\/revisions"}],"predecessor-version":[{"id":70544,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70542\/revisions\/70544"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70543"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}