Tuesday, January 17, 2023
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Bahamas Regulators Interview FTX’s Sam Bankman-Fried, Say They Did not Authorize Prioritizing Native Withdrawals

Bankrupt crypto trade FTX’s founder Sam Bankman-Fried has been interviewed by police and regulators within the Bahamas

In keeping with a Bloomberg report, FTX’s transfer to permit withdrawals for residents in the Bahamas was questioned by the Securities Fee of the Bahamas (SCB). Nevertheless, the fee stated in a press release that it hadn’t “directed, approved or prompt” the prioritization of native withdrawals by FTX Digital Markets Ltd.

The SCB added that it “doesn’t condone the preferential remedy of any investor or shopper of FTX Digital Markets Ltd. or in any other case.”

Again within the U.S., Bankman-Fried is already going through scrutiny from the Securities and Change Fee over whether or not he could have damaged any guidelines.

Earlier on Saturday, he quashed a report which stated that he had flown to Argentina. He later confirmed to a media outlet that he’s nonetheless within the Bahamas. 

Additionally Learn: Musk Says He Had Dialog With Sam Bankman On Twitter Deal: ‘My Bulls**t Meter Was Redlining’

On Thursday, Bankman-Fried tweeted that he can be winding down his buying and selling home, Alameda Analysis. On Friday, FTX and 130 different affiliated corporations filed for Chapter 11 Chapter in federal court docket in Delaware.

A report stated that the day earlier than submitting for chapter safety, FTX’s world trade had $900 million in “simply sellable property” towards $9 billion of liabilities

Reuters reported that as FTX filed for chapter, between $1 billion to $2 billion of buyer funds vanished from the failed crypto trade.

In keeping with the report, Bankman-Fried had transferred $10 billion of buyer funds from his crypto trade to the digital asset buying and selling home, Alameda Analysis, which is the sister firm of FTX.

Final week, the report added, Bankman-Fried convened a gathering with executives in Nassau to have a look at FTX’s books and work out simply how a lot money the corporate wanted to cowl the outlet in its steadiness sheet. 



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