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- This cryptocurrency is currently held in a digital wallet on Fireblocks
- The Bahamas Commission directed Sam Bankman-Fried to transfer the funds to this wallet
FTX Creditors (FTX Trading Limited and Subsidiaries) Information released In their cryptocurrency regulated by the Bahamas Commission (Bahamas Securities Commission).
After the Chapter 11 bankruptcy case begins on November 12, 2022, digital assets of FTX debtors valued at less than $200 million FTT transferred without their authorization, as well as about 1,938 ether.
Crypto is held in a FireBlocks wallet
According to blockchain data, it is Cryptocurrency Currently housed in a digital wallet on Fireblocks. The Bahamas Commission instructed Sam Bankman-Fried to transfer funds to this wallet on November 12. The Commission admitted to arranging these transfers.
At the time of the exchange, the value of crypto in this Fireblocks wallet was less than $300 million at etherscan.io’s spot price, if one assumes that the entire amount of FTT could be sold at spot price. As of December 30, this value has declined to about $167 million. Such a large amount of FTT is not necessarily sold at the spot price.
Creditors must return seized crypto
FTX creditors told the Bahamas Commission that no company has been authorized by them to take the cryptocurrency. Creditors will demand the immediate return of seized cryptocurrency to their Chapter 11 estates for the benefit of creditors.
The Bahamas Commission is solely responsible for regulating FTX DM (FTX Digital Markets Ltd.), a local service company in the islands. This company does not own or operate the FTX exchange nor does it own or have custody of the seized crypto.
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