FTX Debtors Are Now Fighting To Get Their Forfeited Cash Back From The Bahamas Government
Key Points:FTX Trading announced Friday that it and its affiliate debtors would seek to restore cryptocurrency held by Bahamas Securities Commission to their chapter eleven estates.
The Bahamas Security Commission announced Thursday that it has held onto FTX customer assets valued at more than $3.5 Billion since Nov. 12.
The FTX debtors informed the Bahamas Commission they don’t believe Bankman-Fried, Wang or the Bahamas Commission have any authority to take any of their cryptocurrency.
FTX Trading and its affiliate debtors announced Friday that they will seek to restore cryptocurrency held by the Bahamas Security Commission to their chapter 11 estates. The Bahamas Commission has not provided any additional information to the FTX debtors to resolve the valuation discrepancy. The press release did not specify the type of bitcoin that was seized nor the method used to value it. The FTX creditors have urged the agency to clarify any misunderstandings and provide the public with accurate information about the cryptocurrency seized. The press release did not specify the type of bitcoin seized or the method used to value it. Blockchain data shows that this cryptocurrency is now stored at Fireblocks, in a single digital account. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: Bahamas Security CommissionBahamianBankman-FriedETHFTTFTXFTX Debtors