Bahamian regulators declared that billions of dollars worth of assets are currently frozen due to the collapse of cryptocurrency exchange FTX, founded by Sam Bankman-Fried. Following a request from US authorities, he was taken into custody after he was found to be avoiding extradition.
Bankman-Fried is accused of being responsible for billions of dollars in cryptocurrency losses in one of the most disastrous periods in recent history.
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Rebecca Blackwell/AP
As reported by Reuters, the Bahamas Securities and Exchange Commission declared that they have frozen assets of FTX worth over $3.5 billion in accordance with the current market prices.
In the announcement, the Caribbean nation said that the assets will be held for the time being, but afterward, they will be returned to the rightful owners – the creditors or customers of the exchange.
