Bahamas Regulators Now Confirm They Directed SBF to Move Assets

Nov 18,2022
KingData News: At least some of the millions of dollars in FTX customer funds mysteriously moved off the exchange last week were moved at the direction of regulators in the Bahamas. That assertion was made in a new filing by the embattled company, and confirmed late on Thursday by the Securities Commission of the Bahamas itself. "[There is] credible evidence that the Bahamian government is responsible for directing unauthorized access to the Debtors' systems for the purpose of obtaining digital assets of the Debtors—that took place after the commencement of these cases," read the filing, signed by new FTX CEO John Ray. As previously reported, FTX accused the Bahamian government of gaining unauthorized access to the FTX system to withdraw assets after the company filed for bankruptcy. FTX said it was instructed by Bahamian regulators to make "specific post-application transfers of funds. The country has previously denied the allegations.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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