The Securities Commission of Bahamas (SCB) says its decision to seize and transfer the digital assets of FTX Digital Markets (FDM) was the right thing to do.
In a statement last evening, the commission said putting FDM in liquidation was not sufficient since the assets were still prone to hacking and compromise while they were in FTX’s possession.
A court ruling on 12 November 2022 gave the SCB power to transfer all digital assets of FTX into digital wallets under the exclusive control of the commission for the benefit of clients and creditors of FDM.
The commission blasted the new CEO of FTX Trading Limited, John Ray III, for misrepresenting their actions in FTX’s US bankruptcy court case.
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