Regulators are focusing on the SBF empire.
The Key TakeawaysBahamian regulators took the initiative to freeze assets of FTX.
After news that certain Bahamian customers were allowed to withdraw funds, the action was reported.
The sudden collapse of the company is being viewed as one of the greatest catastrophes in the history the industry.
Share this articleThe Securities Commission of the Bahamas has taken action to freeze FTX’s assets. This comes just hours after FTX US opened restricted withdrawals to Bahamian customers. This raised concerns on social media about who was given preference. FTX also announced today it had reached an agreement to allow withdrawals through Tron, raising concerns. It also advised users to “close any positions” but stated that “withdrawals will continue to be open.” The company also announced that its Japan counterpart would limit trading by entering close only mode. Clients will be limited to closing open positions and cannot open new ones. Japanese regulators ordered the exchange to enter this country. On Tuesday, November 8, FTX.com, the main FTX Exchange, stopped withdrawals due to a bank run. Today, withdrawals for Bahamian money were reopened in accordance to local regulations. FTX CEO Sam Bankman Fried announced today that Alameda Research, his principal trading firm, will cease trading. “One way or the other, soon [Alameda] will no longer be trading on FTX,” he stated. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News
