Bahamas securities regulator freezes FTX property

The Bahamas Securities Fee (BSC) has frozen the property of FTX Digital Markets (FDM) and “associated events” on Nov. 10, it additionally suspended FTX’s registration within the nation and the Bahamian Supreme Court docket appointed a provisional liquidator, the BSC stated in an announcement shared by native media.

The BSC added it was conscious of “public statements suggesting that purchasers’ property have been mishandled, mismanaged and/or transferred to Alameda Analysis.”

“No property of FDM, consumer property, or belief property held by FDM will be transferred, assigned, or in any other case handled, with out the written approval of the provisional liquidator,” it stated. Administrators of FTX additionally had their powers stripped.

FTX is registered within the Bahamas, with FTX US a seperate, United States-based entity.

The BSC stated it should work with the appointed liquidator to “acquire the absolute best end result for the purchasers and different stakeholders of FTX.”

This can be a growing story and might be up to date as extra info is made out there.