Securities Commission of The Bahamas Moved $3.5B in FTX Digital Assets to Wallets It Controls
Key Points: The Securities Commission of The Bahamas moved $3.5 Billion of FTX assets into a wallet controlled and maintained by the commission.
The regulator stated that the digital assets were being held temporarily.
Gary Wang and Sam Bankman-Fried, founders of FTX, no longer have access the frozen or transferred tokens.
The Securities Commission of The Bahamas (SCB), has directed the transfer of all digital resources in FTX Digital Markets (the Bahamas unit of FTX), valued at more than $3.25 billion to digital wallets controlled and maintained by the Commission. The Commission requested and received a court order from the SBF to protect FTXDM’s digital assets or manage them. The regulator stated that the digital assets are being held temporarily. The offer is revocable insolvency and will result in the withdrawal of funds. Christina Rolle, the CEO of the commission, stated that FTX founders Sam Bankman Fried and Gary Wang will no longer have access the transferred or frozen tokens after the transfer was completed.
“All transferred assets were and still remain under the sole control”
Rolle stated. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comFoxyCoincu NewsTags: # Cryptocurrencies#MarketsBahamasBlockchaincryptoFTX