When the Commission seized the digital belongings of FTX in November, they had been value simply $296 million, FTX mentioned in an announcement. FTX urged the fee to “clear up any confusion” concerning the belongings it holds and their worth.
The regulator started liquidation proceedings in opposition to FTX Digital Markets Ltd., the corporate’s Bahamas-based unit, in November. FTX mentioned it is going to search the return of any belongings seized, as a result of FTX DM is barely a “local service company” which doesn’t personal the FTX.com alternate or any of the cryptocurrency seized.
SCB mentioned Thursday it had seized over $3.5 billion in cryptocurrency and was holding these funds for future reimbursement to FTX’s prospects and different collectors.
SCB didn’t establish the kind of cryptocurrency seized or say the way it was valued.
FTX mentioned Friday that many of the seized cryptocurrency was within the type of FTX’s proprietary FTT tokens. The seized FTT tokens would have plunged in worth to $167 million as of Dec. 20, and the SCB could also be unable to discover a purchaser for such a big stake even at that lowered value, FTX mentioned.
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SCB didn’t instantly reply to a request for remark Friday.
FTX has been at odds with Bahamian officers ever since submitting for chapter safety on Nov. 11. The Bahamian officers have requested for entry to FTX’s information to help with the liquidation of FTX DM, however FTX’s U.S. chapter workforce mentioned they don’t belief Bahamian officers with that data.
FTX’s founder and former CEO Sam Bankman-Fried was arrested on fraud expenses and is anticipated to arraigned on Jan. 3, 2023, earlier than U.S. District Judge Lewis Kaplan in Manhattan federal courtroom. FTX’s new chief govt John Ray has mentioned that the alternate misplaced $8 billion of buyer cash.