Bahamas regulator sticks to estimate of FTX assets

The Securities Commission of the Bahamas (SCB) rebuffed on Monday FTX‘s claims concerning the digital belongings of its Bahamas unit held by the regulator, saying the debtors of the bankrupt cryptocurrency trade had “incomplete information”.

Last month, the SCB stated it had seized greater than $3.5 billion in cryptocurrency from the unit, FTX Digital Markets, which it was holding for future reimbursement to prospects and different collectors.

FTX disputed SCB’s calculations, saying its digital belongings seized in November had been value simply $296 million and never $3.5 billion.

“Such public assertions by the Chapter 11 debtors were based on incomplete information,” the regulator stated in a press release on Monday.

There was no quick response from FTX, which has been at odds with Bahamian officers since submitting for chapter safety on Nov. 11.

Bahamas officers have sought entry to FTX’s information to assist liquidate FTX Digital Markets, however the firm’s U.S. chapter crew stated it didn’t belief them with the data.

FTX’s founder and former chief government, Sam Bankman-Fried, was arrested on fraud fees and is predicted to be arraigned on Tuesday earlier than U.S. District Judge Lewis Kaplan in Manhattan federal court docket.
The agency’s new chief government, John Ray, has stated the trade misplaced $8 billion of buyer cash.

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