FDM

yourmom_fat_as_hippo

>The Bahamian Securities Commission’s digital asset custody services for FTX also gave fuel to the conspiracies suggesting the commission was behind the hack of multiple FTX wallets. However, the fund transfer patterns of the black hat involved money laundering techniques, which eliminated the chances of a government body behind the hack. For all of you, who were SURE that FTX accounts drainer was Bhamas Regulator. ​ >“The Order secured today confirms the Commission is entitled to be indemnified under the law and FDM shall ultimately bear the costs the Commission incurs in safeguarding those assets for the benefit of FDM’s customers and creditors, in a manner similar to other normal costs of administering FDM’s assets for the benefit of its customers and creditors.” Things are getting worse and worse , as days passes.

coinfeeds-bot

tldr; The Securities Commission of the Bahamas took to Twitter to reveal that it was actually the watchdog that siphoned the funds of the collapsed cryptocurrency exchange FTX. The regulator said it will cooperate with other global watchdogs to "address matters affecting the creditors, clients, and shareholders of FDM." FTX filed for bankruptcy after Binance backed off from a potential acquisition deal. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

FarhanZX

>The cryptocurrency industry saw the spectacular collapse of one of its giants earlier this month, which ultimately resulted in FTX filing for Chapter 11 bankruptcy. Shortly after, though, there were suspicious movements from one of its accounts, many related it to a hack or even an inside job. However, the Securities Commission of the Bahamas took it to Twitter to shed some more light on the events, informing that it was actually the watchdog that siphoned the funds. The statement reads that the Commission, “in the exercise of its powers as regulator acting under the authority of an Order made by the Supreme Court of the Bahamas, took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. to a digital wallet controlled by the Commission, for safekeeping.” The watchdog said its move was in line with its intentions to protect customers and creditors of the fallen exchange. Bahamas’ regulator added that it will cooperate with other global watchdogs to “address matters affecting the creditors, clients, and shareholders of FDM.” FTX filed for bankruptcy after Binance backed off from a potential acquisition deal in the middle of the month. A day later, reports started coming up that some of the SBF-founded exchange’s wallets were being drained, and the total amount neared $500 million at the time. Some speculated that this could be an inside job and warned that Bankman-Fried, who had stepped down as CEO recently, was trying to flee with the money. Oh well, that settles it.

coinfeeds-bot

tldr; The Securities Commission of The Bahamas (SCB) has ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission. SCB justified the move by stating that "urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM." FTX filed for Chapter 15 bankruptcy protection in a New York-based court. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; The Bahamas Securities Commission (BSC) has frozen the assets of FTX Digital Markets (FDM) and "related parties" and suspended FTX's registration in the country. The BSC added it was aware of "public statements suggesting that clients' assets were mishandled, mismanaged and/or transferred to Alameda Research". FTX is registered in the Bahamas, with FTX US a seperate, US-based entity. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

cozzster

I looked at it months ago, but FDM numbers kept me away.