Bahamas regulator is temporarily holding $3.5B FTX assets

Bahamas Securities Commission said it is temporarily holding FTX assets worth $3.5 billion with plans to distribute them to the bankrupt firm’s creditors and customers, according to a Dec. 29 statement.

The financial regulator said it had sought directions from the Bahamian Supreme Court on all its actions regarding FTX Digital Markets Ltd. It added that it commenced the first global action against an FTX entity by placing the firm under the control of a court-appointed fiduciary.