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FTX on friday said Securities Commission of the Bahamas claims are false.
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The digital assets of FTX were only worth $296 million when the Commission seized them in November. It's not worth 3.5 Billion Dollars.
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FTX released a statement. FTX urged Bahamas Authorities to clarify the value and ownership of the assets.
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Friday's announcement by FTX stated that most of the seized cryptocurrency came from FTX's FTT tokens.
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The value of the seized FTT tokens would plunge to $167 million as of December 20.
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Since November 11, when FTX filed for bankruptcy protection, FTX has been at war with Bahamian officials.
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Bahamian officials requested access to FTX records to help liquidate FTX DM.
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However, FTX's U.S. bankruptcy department stated that they don't trust Bahamian officials with this information.
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Sam Bankman-Fried, FTX's founder, was charged with fraud and will be arraigned in Manhattan federal court on January 3, 2023.
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John Ray, FTX's chief executive, has stated that $8 billion in customer money was lost.