Regulation

Bahamas regulator denies asking crypto exchange FTX to mint new tokens

The Securities Fee of The Bahamas (SCB) has denied FTX debtors’ claims and expresses concern that the investigation has been “impeded.”

According to a press release launched on Jan. 3, the SCB has needed to right materials misstatements made by John J. Ray III, the consultant of the United States-based FTX debtors, in press and courtroom filings.

The doc said that the Chapter 11 Debtors had “publicly challenged” the Fee’s calculations of digital property transferred to digital wallets underneath the Fee’s management in Nov. 2022.

It argued that these statements had been primarily based on “incomplete” data and the debtors didn’t do due diligence by requesting data from the Joint Provisional Liquidators.

The assertion added that the FTX CEO John J. Ray III made public statements alleging that the Fee instructed FTX to “mint a considerable quantity of latest tokens” underneath “oath” throughout a courtroom submitting earlier than the US Home of Monetary Companies Committee.

The Chapter 11 Debtors have additionally alleged that the digital property managed by the Fee within the belief of FTX prospects and collectors had been “stolen,” with out offering any substantiated bases for these claims.

The Fee shared concern that its investigation is being compromised by the Chapter 11 Debtors’ refusal to permit the Courtroom Supervised Joint Provisional Liquidators entry to FTX’s AWS System.

The SCB is hoping that the Chapter 11 Debtors will proceed with issues in good religion and in the perfect curiosity of consumers and collectors of FTX, the announcement reads.

Associated: FTX ordered to pay reimbursement charges to Bahamian regulators

The Bahamian securities regulator’s announcement comes after information from courtroom filings in December 2022, the place FTX attorneys claimed the Bahamas authorities reportedly requested that the previous CEO of FTX, Sam Bankman-Fried (SBF), difficulty a brand new cryptocurrency managed by native officers.

The preliminary experiences claimed that the Bahamas regulator requested SBF to mint new digital property value a whole lot of thousands and thousands of {dollars}.



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