The Bahamas Securities Commission announced that the designation of PricewaterhouseCoopers’ Kevin Cambridge and Peter Greaves as the temporary liquidators of the bankrupt crypto exchange FTX’s assets had been approved by the country’s supreme court.
Brian Simms was designated on November 10 to serve as the temporary liquidator under court supervision.
The financial regulator stated that it had to immediately exercise its regulatory control to “further protect the interests of clients, creditors, and other stakeholders globally of FTX Digital Markets Ltd” as the FTX’s collapse caused a grand scale and urgent global consequences.
As the matter was “multijurisdictional in nature”, the Commission also stated its intention to cooperate with other regulatory authorities.
Authorities in the Bahamas are currently investigating FTX, which is headquartered there. The country’s securities regulator asserted that it has frozen FTX’s assets and prohibited the crypto exchange from conducting withdrawals in the state.
FTX requested permission from the court to file a complete list of its 50 largest creditors by November 28 in a different court filing dated November 14. It claimed that, instead of the 100,000 creditors it had previously estimated, it may in fact have over one million.
The Financial Times stated that since FTX had not officially submitted its first-day requests to initiate proceedings, the bankruptcy proceedings had been put on hold.
