Bahamas Seized $3.5 Billion FTX Assets on Custody ConcernsIn

Bahamas Seized $3.5 Billion FTX Assets on Custody Concerns

In a 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.