{"id":42176,"date":"2022-12-14T17:04:39","date_gmt":"2022-12-14T21:04:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=42176"},"modified":"2022-12-14T17:04:41","modified_gmt":"2022-12-14T21:04:41","slug":"bahamian-securities-regulator-slams-new-ftx-ceo","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bahamian-securities-regulator-slams-new-ftx-ceo\/","title":{"rendered":"Bahamian Securities Regulator Slams New FTX CEO"},"content":{"rendered":"\n
Bahamian securities regulator has slammed FTX's new CEO for his statements regarding the ongoing investigation into the bankrupt crypto exchange<\/a>. <\/h5>\n\n\n\n
\"Bahamian
Bahamian Securities Regulator Slams New FTX CEO<\/figcaption><\/figure>\n\n\n\n

Bahamian regulators say that they were the first to take action against SBF, and that recent actions of the current CEO hindered their investigation. The new CEO of FTX has come under fire from the Bahamas securities regulator\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> for comments he made on the current inquiry into the defunct cryptocurrency exchange.<\/p>\n\n\n\n

The Bahamian regulator responded recent claims that the Bahamas' government had ordered former CEO Sam Bankman-Fried<\/a> to develop a new multi-million token and hand over ownership to them in a press release that didn't specifically refer to the statement of John J. Ray III it had issues with.<\/p>\n\n\n\n

According to the investigation, Bahamas officials allegedly made an effort to aid Bankman-Fried in regaining access to crucial FTX computer systems. Bahamas authorities were “responsible for directing unlawful access,” according to U.S. attorneys, to FTX networks in order to seize control of digital assets under the supervision of a U.S. court.<\/p>\n\n\n\n

The failed exchange's CEO was subjected to rigorous regulatory action for the first time, according to the securities regulator. In response to rumors over the custody of digital assets<\/a>, the press statement stated that authorities had obtained the transfer of possibly “commingled digital assets” of FTX exchange pursuant to orders from the Bahamas Supreme Court. The press statement stated: <\/p>\n\n\n\n

\n

“The Commission holds such assets as trustee only (under Bahamian Law), and they will finally be paid, in compliance with the court's decision, to FTX's clients and creditors, wherever they may be situated.”<\/p>\n<\/blockquote>\n\n\n\n

Additionally, Ray came under fire from the Bahamas regulator for using “redacted email correspondence” between authorities and Bankman-Fried. The disclosure claimed that Ray was fully aware of the entire scenario and that the redactions were intended to give the impression that contacts had taken place.<\/p>\n\n\n\n

The securities watchdog demanded that Ray and his agents not “obstruct the investigation” and charged the CEO with failing to discuss his concerns with the commission before going public.<\/p>\n\n\n\n

At the request of the United States government, the Bahamas authorities detained Bankman-Fried late on December 12. A day later, Bankman Fried was accused of defrauding American investors by the U.S. Securities and Exchange Commission<\/a> and the Commodity Futures Trading Commission.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bahamian securities regulator has slammed FTX’s new CEO for his statements regarding the ongoing investigation into the bankrupt crypto exchange. Bahamian regulators say that they were the first to take action against SBF, and that recent actions of the current CEO hindered their investigation. The new CEO of FTX has come under fire from the […]<\/p>\n","protected":false},"author":43,"featured_media":42178,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[778,143],"class_list":["post-42176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-ftx","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/jpg_20221214_214342_0000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=42176"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/42178"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=42176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=42176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=42176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}