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On Thursday, the regulator confirmed that it was temporarily holding assets of $3.5 billion from the company.
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The current market rate determines the pricing at the transfer. They will be delivered to creditors and customers who own them.
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Moreover, FTX founders Sam Bankman Fried and Gary Wang lost access to the assets after the November transfer was completed.
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Christina Rolle, the commission's Executive Director, confirmed this in an affidavit submitted to the Bahamas Supreme Court.
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Rolle said, “All transferred assets were and remain under the sole control of the commission.”
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FTX lawyers also opposed a request for internal records from the Bahamian company earlier this month.
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They specifically stated that they don't trust the Bahamian government to provide data that could be used for siphoning company assets.
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Bahamian authorities appointed liquidators to wind down FTX's international trading operations after the company declared bankruptcy.