Did The Bahamas’ Securities Commission Take Control of FTX’s Assets? They Did

Did The Bahamas’ Securities Commission Take Control of FTX’s Assets? They Did


The Bahamas struck first and struck hard. Yesterday, there were rumors going around that their government was pressuring Sam Bankman-Fried to give them control of FTX’s assets. What sounded like a bizarre story was more than confirmed today. The Securities Commission of The Bahamas released an official document announcing the takeover. Of course, they did it to protect the interests of FTX’s clients. It was urgent.

The document began:

“On 12 November 2022, the Securities Commission of The Bahamas (“the Commission”), in the exercise of its powers as regulator acting under the authority of an Order made by the Supreme Court of The Bahamas, took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. (“FDM”) to a digital wallet

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