New York
CNN Business
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Authorities within the Bahamas have taken keep an eye on of cryptocurrency belongings held via a unit of bankrupt alternate FTX.
The Securities Commission of The Bahamas introduced Thursday evening it has directed the switch of all virtual belongings of FTX Digital Markets, The Bahamas-based FTX unit that filed for Chapter 15 chapter coverage on Tuesday.
The regulator mentioned the ones belongings are being transferred to a virtual pockets managed via the Bahamas regulator for “safekeeping.”
“Urgent interim regulatory action was necessary to protect the interests of clients and creditors” of FTX Digital Markets, the company mentioned.
The transfer comes hours after the previous Enron legal professional overseeing FTX’s chapter made a sequence of alarming revelations in a court docket submitting concerning the chaos on the crypto alternate.
The submitting painted the image of a crypto empire that used to be vastly mismanaged and probably fraudulent, together with unreliable monetary statements, the mishandling of confidential knowledge and using company finances to shop for houses for workers within the Bahamas.
Last weekend, the Royal Bahamas Police Force introduced it’s investigating possible legal misconduct surrounding the implosion of FTX, which moved its headquarters to The Bahamas ultimate yr.
The Securities Commission of the Bahamas mentioned it’s going to visit different regulators and government all over the world to get the “best possible outcome” for the collectors, purchasers and stakeholders of FTX.
