The Bahamas Securities Commission (SCB) has just denied FTX’s allegations claiming the regulator accessed the exchange’s affiliate’s assets without authorization.
FTX Trading, Alameda Research, and more than 130 other affiliates filed last November 11 for Chapter 11 bankruptcy in Delaware.
On the same day, the SCB froze the assets of the group’s Bahamas-registered affiliate, FTX Digital Markets (FDM). On November 15, the jurisdiction’s Supreme Court approved temporary liquidators for the division.
FDM immediately applied for creditor protection in New York. The move was taken to avoid the confiscation of the company’s funds in the United States.
At the same time, FTX Trading accused the Bahamas regulator of unauthorized access to the exchange’s funds. A spokesman for the company also noted there were “cryptic comments from the authorities regarding actions in relation to certain assets.”