The liquidators assigned to FTX from the Bahamas agreed to turn the case over to Delaware.
However, tensions between FTX and the Bahamas continue to escalate. The country’s regulator has accused the new FTX administration of making false claims.
Bahamas to Transfer FTX Case to Delaware
The Bahamas’ financial regulator has defended its treatment of FTX in the face of allegations that the bankrupt crypto exchange has gained unauthorized access to its systems.
The Bahamas Securities Commission (SCB) stated in a statement that John Ray, who took over as CEO of FTX after Sam Bankman-Fried resigned on November 11, took timely action and made false statements with sincere and false claims.
SCB had this to say about Ray’s review of how FTX was run, included in Chapter 11 of the bankruptcy papers filed on Nov.
“The Commission’s swift action to secure these digital assets strengthens knowledge on the matter.”
This came amid efforts to consolidate separate FTX-related bankruptcy proceedings. The filing on FTX Trading Ltd requested the transfer of Chapter 15 bankruptcy proceedings in New York to Delaware. The claim is filed with FTX Digital Markets Ltd., the firm’s Bahamas unit, which has previously filed for Chapter 15 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York. was related to.
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