The Bahamas Securities Commission (SCB) said that FTX’s assets cannot be moved without the approval of a liquidator.
FTX founder Sam Bankman-Fried has on the agenda to raise $1 billion from Tron founder Justin Sun, $1 billion from crypto exchange OKX, $1 billion from Tether, and $2 billion from a mutual funds consortium. But things don’t seem to be working out for the stock market just yet. The honeymoon between SBF and the Bahamas has come to an end.
Bahamas Suspend FTX Assets
The Bahamas Securities Commission (SCB) has issued an order to freeze the assets of struggling cryptocurrency exchange FTX.
“FTX has taken action to freeze the assets of Digital Markets and FTX,” the regulator explained. At the same time, he added that the commission had suspended FTX’s registration of operations and asked the Bahamas Supreme Court to appoint a temporary liquidator.
SCB said it was aware of disclosures suggesting that FTX’s assets were misused, mismanaged or transferred to Alameda Research. The Commission described these actions as potentially illegal.
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