The Bahamas Securities Commission announced on Thursday that on the previous Saturday, the contents of FTX’s crypto wallets were ordered to be transferred to government-controlled wallets. The commission stated in a press release that it issued the order under existing authorities that allow it to act to protect clients or their funds. “In the exercise of its powers as regulator acting under the authority of an Order made by the Supreme Court of The Bahamas, the Securities Commission of The Bahamas directed the transfer of all digital assets of FTX Digital Markets Ltd. (‘FDM’) to a digital wallet controlled by the Commission, for safekeeping,” the release stated.
