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.

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.

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