Two of the members of accounts auditing firm PwC will be in charge of liquidating the assets of FTX as guarantees for the exchange’s clients.
The Bahamas Securities Commission emphasized the necessity of acting quickly due to the scale of the case.
Monday, November 14th, heralded the appointment of the FTX Group liquidation board by financial regulators in the Bahamas. The liquidators are tasked with engaging with proceedings in the foreclosure of the company’s assets as soon as possible with the intent to return funds to clients of the crypto exchange.
Last week, authorities in the Caribbean country disclosed that they had opened investigation into the company and its owner, Sam bamkman-Fried, to determine whether they had engaged in any “criminal misconduct.”
Moving to secure the company’s assets, the Bahamas Securities Commission elected to freeze the assets of FTX Digital Markets (FDM), and rescinded the exchange’s license to operate in the region.
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