FTX: Bahamas regulators hold US$296mil, not US$3.5bil of assets

FILE PHOTO: Representations of cryptocurrencies are seen in front of displayed FTX logo in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration

NEW YORK: FTX has disputed claims by the Securities Commission of the Bahamas (SCB) that the regulator was holding US$3.5bil (RM15.4bil) of the bankrupt cryptocurrency exchange’s assets.

When the Commission seized the digital assets of FTX in November, they were worth just US$296mil (RM1.3bil), FTX said in a statement. FTX urged the commission to “clear up any confusion” about the assets it holds and their value.