The Securities Commission of the Bahamas claims that it has moved $3.5 billion from FTX’s Bahamian subsidiary, FTX Digital Markets, into its own digital wallets for "safekeeping" while former FTX CEO Sam Bankman-Fried awaits trial in the United States.
The Securities Commission of The Bahamas announced late Thursday that it had seized $3.5 billion worth of crypto assets from bankrupt crypto exchange FTX.
The Securities Commission of the Bahamas said it has taken possession of $3.5 billion worth of cryptocurrency from the collapsed exchange FTX for "safekeeping" until it receives guidance from its courts.
The Securities Commission of the Bahamas said Thursday it seized some $3.5 billion in FTX assets "for safekeeping" after the crypto exchange's bankruptcy and hacks on the system.
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Bahamian Regulator Says It Seized $3.5 Billion of FTX Crypto Assets for ‘Safekeeping' | Since Then
