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Bahamas regulator SCB denies asking FTX to mint new tokens
The Securities Commission of The Bahamas (SCB) has refuted claims by FTX debtors that it ordered the crypto exchange to mint tokens worth hundreds of millions. In an official statement released on January 3, the regulator sought to correct material misrepresentations made by FTX's new CEO, John J. Ray III, in a series of court filings that received global media coverage. SCB has reportedly asked SBF to mint new tokens Last month, FTX lawyers made several public claims that Bahamian authorities reportedly ordered the exchange's founder, Sam Bankman-Fried (SBF), to mint a new cryptocurrency worth...
Bahamas regulator SCB denies asking FTX to mint new tokens
The Securities Commission of The Bahamas (SCB) has refuted claims by FTX debtors that it ordered the crypto exchange to mint tokens worth hundreds of millions.
In one (n official statement published on January 3, the regulator sought to correct material misrepresentations made by FTX's new CEO, John J. Ray III, in a series of court filings that received global media coverage.
SCB has reportedly asked SBF to mint new tokens
Last month, FTX lawyers made several publicClaimsthat Bahamian authorities reportedly ordered the exchange's founder, Sam Bankman-Fried (SBF), to issue a new $300 million cryptocurrency that would be controlled by local officials.
The SCB statement also noted that Chapter 11 debtors had discussed the value of seized digital assets held by the regulator in November.
Remember that last month theRegulatory authority announcedthat there are digital assets worth more than $3.5 billion.
However, FTXquickly disputedthe calculations of the SCB, which claims that its seized digital assets are worth only $296 million, rather than the $3.5 billion reported by the securities regulator.
FTX’s claims were based on “incomplete information”
In the statement, the SCB argued that these claims were based on “incomplete information,” adding that the debtors failed to conduct due diligence before making such allegations.
“The Chapter 11 Debtors have elected not to exercise their opportunity to request information from the Joint Provisional Liquidators pursuant to a court order from the Supreme Court of the Bahamas received by the Commission to enable the Chapter 11 Debtors to obtain this information...The U.S. Debtors' continued lack of due diligence in making public statements to the Commission is disappointing,” the regulator said.
The SCB also expressed concerns that its investigation is being jeopardized by the Chapter 11 debtors' insistence on denying court-supervised joint interim liquidators access to FTX's AWS system.
The regulator urged Chapter 11 debtors to proceed with matters that are in the best interests of FTX customers and creditors.
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