The Securities Fee of the Bahamas directed the switch of all digital property in FTX’s Bahamas unit FTX Digital Markets that have been valued at greater than $3.5 billion to digital wallets managed by the fee, it stated on Thursday.
The digital property are being held on a brief foundation, the regulator stated.
Upon completion of the switch, FTX founders Sam Bankman-Fried and Gary Wang not had entry to the tokens that have been transferred or frozen, the chief director of the fee, Christina Rolle, stated in an affidavit filed with the Bahamas Supreme Court docket.
“All transferred property have been and stay below the only management of the fee,” Rolle stated.
Legal professionals for crypto trade FTX earlier this month opposed a requirement for inside information from its Bahamian enterprise, saying they “don’t belief” the Bahamian authorities with information that may very well be used to siphon off property from the bankrupt firm.
FTX, its hedge fund Alameda Analysis and dozens of associates filed for U.S. chapter final month.
The identical week, authorities within the Bahamas, the place the corporate had its headquarters, appointed liquidators to wind down FTX’s worldwide buying and selling enterprise.
