Bahamas Regulator Freezes FTX's Assets
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Nov. 11, 2022

The Bahamas Securities and Exchange Commission has frozen the assets of FTX Digital Markets (FDM) and affiliated entities, and has suspended the company's license in the country.

The courts will reportedly consider conditional liquidation of the organization, which is necessary "to preserve assets and stabilize the company."

According to the statement, the regulator is aware of Alameda Research's asset management statements from clients.

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The regulator and the appointed receiver will strive "to obtain the best outcome for clients and stakeholders."

FTX Digital Markets is a subsidiary of the Bahamas-based platform, whereas FTX US is a separate legal entity.

Sam Bankman-Fried, CEO of the company, has assured the value of the platform's assets exceeds customer deposits.

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