FTX: Bahamas Securities Commission Holds Only $296M in FTX Digital Assets, Not $3.5B
January 1st, 2023

According to Reuters, FTX refuted the claim that “the Securities Commission of the Bahamas (SCB) holds $3.5 billion worth of FTX digital assets.” FTX said in a statement that when SCB seized FTX’s digital assets in November of this year, they were worth only $296 million. FTX urged SCB to clarify its holdings and their value. In November, SCB began liquidation of FTX’s Bahamian subsidiary, FTX Digital Markets Ltd. FTX said it would seek to return all seized assets, as FTX DM is only a “local services company” and does not own the FTX.com exchange or any of the seized cryptocurrencies. SCB said on Thursday that it has controlled more than $3.5 billion in digital assets of FTX, which will be used to repay FTX's customers and other creditors in the future. SCB did not specify the type of assets or their value.

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