By Dietrich Knauth
-FTX on Friday they disputed claims from the Bahamas Securities and Exchange Commission (SCB) that the regulator held $3.5 billion of the assets of the bankrupt cryptocurrency exchange.
When the Commission seized the digital assets of FTX in November, they were worth just $296 million, FTX he said in a statement. FTX He urged the commission to "clarify any confusion" about the assets he owns and their value.
The regulator initiated liquidation proceedings against FTX Digital Markets Ltd., the Bahamas-based unit of the company, in November. FTX He said that he will seek the return of the seized assets, because FTX DM is just a "local service company" that does not own the FTXIntercambio .com or any of the seized cryptocurrencies.
SCB said on Thursday that it had seized more than $3.5 billion worth of cryptocurrency and was holding those funds for future redemptions to FTXcustomers and other creditors.
SCB It did not identify the type of cryptocurrency seized or say how it was valued.
FTX said on Friday that most of the seized cryptocurrency was in the form of FTXowns FTT tokens the seized FTT the tokens would have fallen in value to $167 million as of December 20, and the SCB you may not be able to find a buyer for such a large stake even at that lower price, FTX said.
SCB He did not immediately respond to a request for comment on Friday.
FTX has been at odds with Bahamian officials since filing for bankruptcy on November 11. Bahamian officials have requested access to FTXrecords of to assist with the settlement of FTX MD, but FTXThe US bankruptcy team said it does not trust Bahamian officials with that information.
FTXfounder and former CEO Sam Bankman-Fried was arrested on fraud charges and is expected to arraign on January 3, 2023 before United States District Judge Lewis Kaplan in Manhattan Federal Court. FTXThe new CEO of John Ray has said that the exchange lost $8 billion in client money.
