Liquidators Seek Consensus over FTX Data
The joint provisional liquidators (JPL) overseeing the winding up of FTX Digital Markets (FTX DM) in The Bahamas are working to reach an agreement over access to the exchange’s data with FTX’s US debtors, who are in Chapter 11 bankruptcy.
The JPLs and FTX’s new CEO, John Ray III, have sparred over the issue in recent weeks.
Ray claims that the JPLs, the Securities Commission of The Bahamas (SCB), and the Bahamas government conspired with former FTX CEO Sam Bankman-Fried to undermine the bankruptcy proceedings.
Ray also criticised the SCB for transferring hundreds of millions of dollars in FTX digital assets into a secure wallet controlled by the SCB in the days following FTX’s Chapter 11 bankruptcy filing.
The SCB defended the decision, noting that it was made with the Supreme Court’s approval. It stated that $3.5 billion in assets had been transferred to a digital wallet.
Judge John T. Dorsey agreed yesterday to postpone the hearing until January 13, 2023, to allow FTX US and the JPLs to reach an agreement.
(Reporting by Shikha Singh; Editing by Kapil Rajyaguru)
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