Bahamas Securities Commission responds to FTX's restructuring team's three major false accusations
SBF and FTX are reorganizing their teams, while the Bahamas Securities Commission (SCB) continues to present conflicting statements. The timeline is roughly as follows:
Table of Contents
1/3｜SCB: Reorganization Team Describes Serious Errors
SCB expresses dissatisfaction with the following three points:
1. FTX Debtor Representative John Ray Questions Custodial Asset Value
SCB points out that John Ray had the ability to obtain exact data from the interim liquidator, but chose to arrogantly make public statements.
2. John Ray Alleges SCB Leads in Minting Large Amounts of FTT Tokens
John Ray previously publicly stated at a hearing that SCB requested top FTX officials to mint $300 million worth of FTT tokens, but this was part of the process of transferring and custodian assets by SCB.
3. Questioning SCB of Mismanagement
The reorganization team points out that SCB claimed the assets under custody had been hacked, but failed to provide any substantial evidence.
Regarding the third point, SCB did not offer a strong rebuttal, only mentioning that FTX US and former CFTC legal advisor Ryne Miller had also emphasized the importance of securely custodian assets for future bankruptcy proceedings.
Meanwhile, SBF is expected to appear in court on 1/3, hoping this will bring tangible progress to the case.