Bahamas watchdog ordered FTX to send digital assets to its wallet

The Securities Commission of Bahamas revealed on Nov. 18 that it directed FTX to transfer digital assets under its control to the Commission’s wallet on Nov. 12. According to the regulator, the directive was aimed at “safekeeping” the assets and “was necessary to protect the interests of clients and creditors” of the bankrupt exchange. A Nov. 17 court filing from FTX revealed that it has recorded and verified text evidence that the Bahamas regulators directed the unauthorized access and withdrawal from the bankrupt exchange. FTX also challenged the complaint filed by the Bahamas-government appointed liquidators in New York. The liquidators had filed a Chapter 15 in a New York court requesting the court to grant it control of the proceedings in the Bahamas.