Securities Fee of The Bahamas denies asking FTX to mint thousands and thousands in tokens
The Securities Fee of The Bahamas (SCB) is denying allegations that it had directed the failed crypto-exchange, FTX, to mint US$300m tokens previous to its collapse.
“The Securities Fee of The Bahamas should as soon as once more appropriate materials misstatements made by Mr. John J Ray III, the consultant of the US FTX debtors (Chapter 11 Debtors), in each the press and court docket filings,” the SCB stated in a press release because it challenged Ray on his allegations, that they had any management over the failed crypto-exchange property after its submitting for liquidation and Chapter 11 chapter.
The SCB stated on December 30, final yr, the Chapter 11 debtors publicly challenged the fee’s calculations of the digital property which have been transferred to digital wallets managed by the fee on November 12, 2022, for safekeeping within the train of its powers as regulator appearing beneath the authority of an order made by the Supreme Courtroom.
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It stated such public assertions by the Chapter 11 debtors have been primarily based on incomplete data.
“The Chapter 11 debtors selected to not make the most of their capacity to request data from the joint provisional liquidators pursuant to a court docket order of the Supreme Courtroom of The Bahamas that the fee obtained in an effort to permit the Chapter 11 debtors to acquire this data.
“The US debtors’ continued lack of diligence when making public statements in regards to the Fee is disappointing and displays a cavalier perspective in direction of the reality and in direction of The Bahamas that has been displayed by the present officers of the Chapter 11 Debtors from the date of their appointment by Sam Bankman-Fried.”
“These statements have been made in a court docket submitting on December 12, 2022, with out proof, after which made once more beneath oath, on December 13, earlier than the USA’ Home Monetary Providers Committee.
“Statements suggesting that Bahamian officers directed FTX staff to mint US$300m in new FTT tokens have been extensively reported by the worldwide press. Such unfounded statements have the impression of selling distrust of public establishments in The Bahamas.
The SBC stated the Chapter 11 debtors have additionally alleged that the digital property managed by the fee in belief for the advantage of clients and collectors of FTXDM have been “stolen, with out offering any substantiated bases for such claims, notably, as to their claims to possession of the property.
The SBC stated Ray had by no means reached out to substantiate any data earlier than making allegations and that it “has nonetheless not obtained a response to its 7 December 2022 letter to Mr. Ray providing cooperation with Chapter 11 debtors.
Final December, the chief govt officer of the of the collapsed cryptocurrency alternate, Sam Bankman-Fried, was extradited to the USA after he was arrested in The Bahamas.
A grand jury indictment charged Bankman-Fried with wire fraud and conspiracy to commit wire fraud in opposition to lenders and clients, conspiracy to commit securities fraud, conspiracy to commit cash laundering, and violations of marketing campaign finance legal guidelines.
CMC/