- A Bahamian regulator reported that it held over $3.5 billion in FTX buyer property since 12 November
- Quickly after, FTX Buying and selling and its affiliated debtors claimed that they might search the return of that cryptocurrency to their Chapter 11 estates for the advantage of collectors.
In keeping with a 30 December 2022 tweet, the SCB shared on Twitter that it has held greater than $3.5 billion in buyer property since 12 November.
The Securities Fee of The Bahamas (SCB) additional known as the statements of the brand new FTX CEO “unfounded.” This tweet was the newest within the row of slings and arrows geared toward one another by the Bahamian regulator and the brand new FTX administration.
Securities Fee of The Bahamas Corrects Materials Misstatements made by Chapter 11 Debtors pic.twitter.com/FkSXEt9fz5
— Securities Fee of The Bahamas (@SCBgov_bs) January 3, 2023
The SCB took exception to a few statements made by the brand new FTX CEO, John Ray III. These embrace his statements questioning its calculation of the worth of the digital property transferred into its custody on 12 November, his statements concerning the regulator instructing FTX to mint $300 million in new FTT tokens, and his statements suggesting that property held by the SCB have been stolen.
Ray III’s problem to the SCB’s calculations, in keeping with the SCB, was primarily based on incomplete data. Moreover, the claims that the SCB had given FTX directions on FTT minting have been allegedly “unfounded.”
Ray III’s fees of theft have been unsubstantiated, in keeping with the assertion.
The SCB additional stated,
“The US Debtors’ continued lack of diligence when making public assertion regarding the Fee is disappointing, and displays a cavalier perspective in the direction of the reality and in the direction of The Bahamas that has been displayed by the present officers of the Chapter 11 Debtors from the date of their appointment by Sam Bankman-Fried.”
FTX debtors to hunt property price $3.5 billion held by the SCB
Quickly after, FTX buying and selling and its affiliated debtors issued a press release, whereby they claimed that they might search the return of that cryptocurrency to their Chapter 11 estates for the advantage of collectors. FTX additional claimed that the funds have been transferred after chapter proceedings had begun.
Their document learn,
“The FTX Debtors have knowledgeable the Bahamas Fee that none of Mr. Bankman-Fried, Mr. Wang or the Bahamas Fee had a proper to take cryptocurrency of the FTX Debtors.”
The debtors claimed that the cryptocurrency was in a Fireblocks pockets managed by the Bahamas regulator. It was price $296 million at spot market costs whereas being transferred, however till the time of the tweet, it was price $167 million solely.