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The Securities and Exchange Commission announced that FTX assets have been frozen. An employee revealed: Top ten influencers in the Bahamas hold the power over life and death at FTX.

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The Securities and Exchange Commission announced that FTX assets have been frozen. An employee revealed: Top ten influencers in the Bahamas hold the power over life and death at FTX.

The Securities Commission of The Bahamas has stated that it has frozen assets related to FTX, while several anonymous current and former employees have revealed the conflicts of interest and complex relationships between FTX and Alameda. One of them bluntly stated: "The whole thing is like a bunch of kids in The Bahamas playing around."

Bahamas Securities Commission Freezes FTX Assets

According to a document from the Bahamas Securities Commission, the main points are as follows:

"The Securities Commission of the Bahamas has taken action to freeze the assets of FTX Digital Markets and related parties, suspended FTX's registration, and applied to the Supreme Court of the Bahamas to appoint a temporary liquidator for FTX Digital Markets Ltd. FTX Digital Markets Ltd. FDM.

Brian Simms will be appointed as the temporary liquidator. In addition, the powers of the FTX board of directors have been suspended, and FDM or its user or trust assets cannot be dealt with in any other way without the written approval of the temporary liquidator.

According to the Commission's standards, any improper handling of user assets without consent and transfer to Alameda Research may be illegal.

Since the development of the FDM incident, the Commission has been actively handling it, and our more cautious approach would be to temporarily liquidate FDM and strive for the best results for users and stakeholders."

Current and Former Employees' Revelations

CoinDesk has cited several current and former employees revealing the following points:

  1. Ten individuals living in a luxury home in the Bahamas hold the highest authority in FTX.

  2. These include FTX CTO Gary Wang, Engineering Director Nishad Singh, and Alameda CEO.

  3. The aforementioned three are also board members of the FTX Foundation.

  4. Gary, Nishad, and SBF control all the codes and funds.

  5. These ten individuals have had or currently have romantic relationships with each other.

  6. Alameda CEO Caroline Ellison is in a relationship with SBF.

  7. FTX employees were completely unaware and even thought it was fake news when they heard about Binance's acquisition of FTX.