The Bahamas Securities Fee has accused John J. Ray III, the present CEO of bankrupt cryptocurrency trade FTX, for remarks about an ongoing investigation into FTX.
In a press launch despatched to Cointelegraph, the Bahamian regulator didn’t straight level to the CEO’s precise assertion, however the Bahamian authorities will create thousands and thousands of latest tokens for former CEO Sam Bankman-Fried. He famous a current report suggesting that he had requested to Give them management.
The report additionally alleges that Bahamian officers tried to assist Bankman-Fried regain entry to FTX’s key laptop techniques. In line with US attorneys, Bahamian officers have been “accountable for directing unauthorized entry” to the FTX system with a purpose to take over management of digital belongings beneath US courtroom supervision.
The securities regulator stated it was the primary regulator to take robust motion in opposition to a failed trade and its CEO. Addressing rumors about custody of digital belongings, the press launch famous that authorities secured the switch of FTX trade’s doubtlessly “commingled digital belongings” with an order issued by the Supreme Court docket of the Bahamas. did. The press launch reads:
“The Fee will maintain these belongings solely as trustees (beneath Bahamas regulation) and can finally be distributed to FTX collectors and prospects wherever they’re as directed by the courtroom.”
Bahamian regulators additionally accused Ray of utilizing “redacted e mail communications” between officers and Bankman-Fried. The discharge stated these edits have been designed to create a misunderstanding of communication and that Ray was nicely conscious of the complete state of affairs.
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Securities regulators have requested Ray and his representatives to not “hinder the investigation,” accusing the CEO of failing to articulate his considerations to the fee earlier than publicly airing the investigation.
Former FTX CEO Bankman-Fried was arrested by Bahamian authorities late December 12 on the request of the US authorities. The following day, the U.S. Securities and Trade Fee and the Commodity Futures Buying and selling Fee indicted Bankman-Fried for deceptive U.S. traders.