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The Bahamas Regulator Maintains Its Estimate Of FTX Assets
Abstract：The Securities Commission of the Bahamas (SCB) denied on Monday FTX's allegations concerning the digital assets of its Bahamas business seized by the regulator, claiming the debtors of the insolvent cryptocurrency exchange had "incomplete information".
(Reuters) - The Securities Commission of the Bahamas (SCB) denied on Monday FTX's allegations concerning the digital assets of its Bahamas business seized by the regulator, claiming the debtors of the insolvent cryptocurrency exchange had “incomplete information”.
The SCB said last month that it had seized more than $3.5 billion in cryptocurrencies from the FTX Digital Markets business, which it was keeping for future reimbursement to consumers and other creditors.
FTX challenged SCB's figures, claiming that the digital assets confiscated in November were only worth $296 million, not $3.5 billion.
“Such public representations by Chapter 11 debtors were based on inadequate information,” the agency said Monday in a statement.
FTX did not respond immediately. The company has been in conflict with the Bahamian government since declaring bankruptcy on November 11.
Bahamas authorities have requested access to FTX's documents in order to assist with the liquidation of FTX Digital Markets, but the company's U.S. bankruptcy team has said that it does not trust them with the information.
Sam Bankman-Fried, the founder and former CEO of FTX, was arrested on fraud charges and is scheduled to appear in Manhattan federal court on Tuesday before U.S. District Judge Lewis Kaplan.
According to the firm's new CEO, John Ray, the exchange lost $8 billion in client funds.
Stay tuned for more FTX news.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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Apex Markets Review: Traders Outraged Over Withdrawal Denials & Other Trading Issues
Struggling to access fund withdrawals from Apex Markets for months? Does the broker remain silent on fund withdrawal issues? Does the Saint Vincent and the Grenadines-based forex broker reject your winning trades? Have you failed to get a refund into the card used for deposits? Did the broker deduct from your trading account instead? Traders have been imposing these scam allegations while sharing the Apex Markets Review online. We read the reviews and shared some of them below. Take a look!
Original 15h
Aron Groups Review: Fund Losses, High Commission & Trade Manipulation Keep Traders on Tenterhooks
Have you lost your hard-earned capital while trading via Aron Groups Broker? Has the high commission charged by the broker substantially reduced your trading profits? Does the Marshall Islands-based forex broker constantly manipulate spreads to widen your capital losses? Have you been lured into trading courtesy of Aron Groups No Deposit Bonus, only to find that you had to deposit capital to get a bonus? All these and many more trading issues have become synonymous with the experience of Aron Groups’ traders. Consequently, many traders have shared negative Aron Groups reviews online. In this article, we have shared some of their reviews.
Original 18h
Uniglobe Markets Bonus Review: Understanding the Offers and Uncovering the Risks
Many traders start looking for a new broker by searching for special deals and bonuses. The phrase "Uniglobe Markets no deposit bonus" is something people often search for. Let's address this question clearly and directly. Based on all the information we have, Uniglobe Markets does not currently offer a no-deposit bonus. Instead, this broker focuses on bonuses that require you to deposit your own money first. To get any bonus credits, traders must put in their own capital. Read on to learn how this entire bonus works out for traders.
Original 18h
JP Markets Review: High Spread & Commission, Fake Bonus Lure & Withdrawal Hassles Frustrate Traders
Have you been lured into opening a JP Markets Forex Trading Account with a high bonus offer that never existed? Have you found the spread and commission charges higher on JP Markets Login than what’s advertised on the broker’s website? Wondering why you are not able to withdraw funds from your trading account? Well, all of these hint at a potential forex investment scam. Many traders have expressed their disappointment while sharing the JP Markets Review online. In this article, we have shared certain complaints. Take a look at them.
Original Two days ago
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