Bahamas Seized $3.5 Billion FTX Assets on Custody ConcernsIn

Bahamas Seized $3.5 Billion FTX Assets on Custody Concerns

In a media relesa late Thursday, the watchdog confirmed the total sum taken from FTX’s Bahamian subsidiary, FTX Digital Markets, and added that the funds were moved into its own digital wallets “for safekeeping.”

• The Bahamian securities commission said the funds are being held on a “temporary basis” until it is directed by the Bahamas’ Supreme Court to deliver them to customers and creditors, or to liquidators of the insolvency estate.