Bahamas Securities Commission Reveals Previously Controlled FTX Assets Worth Over $3.5 Billion

The Securities Commission of the Bahamas issued a document stating that on November 12, 2022, the Commission, pursuant to an order of the Supreme Court of the Bahamas, placed FTX Digital Markets Ltd (FTXDM) or its principals in custody or control with a value exceeding US$3.5 billion (at the time) market price at the time of transfer) to digital wallets controlled by the Commission. To facilitate the protection and security of assets held by the Commission for FTXDM’s clients and creditors, the above actions were made pursuant to a sequestration order requested by the Commission and granted by the Supreme Court of the Bahamas on November 16, 2022, the Commission said.