The Bahamas Securities Commission has already obtained local court approval for its actions. It appointed two members of accounting firm PwC as liquidators to oversee the FTX subsidiary in the Bahamas.
“Given the scale, urgency and international implications of the events surrounding FTX, the Commission recognized the need for action and acted swiftly,” the Bahamas Exchange Commission said. He added that they must protect the interests of customers, creditors and other stakeholders around the world.
Since deposits are in no way insured, unlike classic bank accounts, people will lose exchange-traded funds. The Kurzy.cz server reported that investors had $180 billion worth of cryptocurrencies on the exchange. These were ordinary users and large investment companies.
The Billion Dollar Cryptocurrency Debris. FTX exchange filed for bankruptcy, people will lose money
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FTX filed for bankruptcy after customers withdrew about six billion dollars (CZK 140 billion) from its platform within 72 hours. At the same time, rival exchange Binance backed off its plan to take over cryptocurrency exchange FTX.
FTX founder Sam Bankman-Fried lives in the Bahamas. There was speculation that he fled to South America, but over the weekend he denied it, saying he was still in the Bahamas.
Escape to South America? Head of bankrupt cryptocurrency exchange FTX denies it
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