The crypto exchange's problems continue to worsen even after SBF's recent apology.
The crypto exchange’s problems continue to worsen even after SBF’s recent apology.
Amid the problems plaguing cryptocurrency exchange FTX, the Securities Commission of the Bahamas has frozen the firm’s assets.posted by Nassau Guardian via Twitter on Thursday , the Commission revealed it had frozen assets of FTX Digital Markets “and related parties.”that the company’s headquarters will be in the Bahamas.“The Commission is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research.
The Bahamian regulatory watchdog also sought the appointment of a provisional liquidator for FTX from the country’s Supreme Court, with Brian Simms, an attorney, appointed by the court. Subsequently, the exchange’s assets cannot be transferred or assigned without written approval from the provisional liquidator.
According to the press release, the latest string of unfortunate events regarding the crypto exchange caused the agency to take “a prudent cause of action” by putting the beleaguered firm “into provisional liquidation to preserve assets and stabilize the company.”The latest development comes as FTX is battling a liquidity crisis. As recently
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