STATEMENT REGARDING FTX

In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.

Chrislyn Skippings — RBPF, PACO 13 November, 2022

Thursday, November 10, 2022

FTX Assets in The Bahamas Officially Frozen - The Company is Now in Liquidation

Thursday November 10, 2022 - Nassau, The Bahamas: The Securities Commission of The Bahamas freezes FTX assets; company put into liquidation

“Today, the Securities Commission of The Bahamas (the Commission) took action to freeze assets of FTX Digital Markets and related parties.  The Commission also suspended the registration and applied to the Supreme Court of The Bahamas for the appointment of a provisional liquidator of FTX Digital Markets Ltd. (FDM),” said a statement released by SCB Executive Director Christina Rolle this evening.

“The Commission is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda Research. Based on the Commission’s information, any such actions would have been contrary to normal governance, without client consent and potentially unlawful.

Since the unfolding of events involving FDM, the Commission has proactively dealt with the situation and continues to do so.

“The Commission determined that the prudent course of action was to put FDM into provisional liquidation to preserve assets and stabilize the company.”