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News

Bahamas Freezes FTX Assets, Looking For Liquidators

November 11, 2022 - Around 1 mins mins to read
The Bahamas Securities Commission announced the freezing of the assets of “FTX Digital Markets,” as well as filing a court application to seek a liquidator on behalf of FTX.
Bahamas Freezes FTX Assets, Looking For Liquidators
Bahamas Freezes FTX Assets, Looking For Liquidators 2

The agency suggested that FTX’s assets were mishandled, mismanaged, or transferred to Alameda Research in the letter, which was posted by the Nassau Guardian on Twitter in response to the FTX and Alameda events. This was described as potentially illegal, and it was advised that FTX Digital Markets be placed into provisional liquidation to “preserve assets and stabilize the company.”

As Coincu reported, FTX had announced it started processing withdrawals from Bahamas customers.

Given the severity of the crisis, it has all led to speculation that FTX will have to declare “bankruptcy” in the coming days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Alameda Research

Bahamas

FTX

FTX Digital Markets

SBF

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Bahamas Freezes FTX Assets, Looking For Liquidators

The Bahamas Securities Commission announced the freezing of the assets of “FTX Digital Markets,” as well as filing a court application to seek a liquidator on behalf of FTX.
Bahamas Freezes FTX Assets, Looking For Liquidators
Bahamas Freezes FTX Assets, Looking For Liquidators 4

The agency suggested that FTX’s assets were mishandled, mismanaged, or transferred to Alameda Research in the letter, which was posted by the Nassau Guardian on Twitter in response to the FTX and Alameda events. This was described as potentially illegal, and it was advised that FTX Digital Markets be placed into provisional liquidation to “preserve assets and stabilize the company.”

As Coincu reported, FTX had announced it started processing withdrawals from Bahamas customers.

Given the severity of the crisis, it has all led to speculation that FTX will have to declare “bankruptcy” in the coming days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News