The Securities Commission Of The Bahamas Denies Asking FTX To Mint New Tokens

The Securities Commission of The Bahamas has refuted the claims made by FTX debtors that it had instructed the digital asset exchange to mint tokens worth hundreds of millions of dollars.

In an official statement released on 3rd January, the regulator sought to correct the material misstatements of the exchange’s new chief executive officer, John J. Ray III, in a series of court filings that received global media coverage.

Last month, FTX lawyers made a couple of public statements alleging that Bahamian authorities purportedly ordered the virtual asset exchange’s founder, Sam Bankman-Fried, to issue a new digital asset to the tune of three hundred million dollars, which local officials would control.

The Supreme Court of The Bahamas’ statement also pointed out that the chapter eleven Debtors had debated the value of seized virtual assets held by the regulator in the month of November.

The regulator mentioned,

“The Chapter 11 Debtors chose not to utilize their ability to request information from the Joint Provisional Liquidators pursuant to a court order of the Supreme Court of The Bahamas that the Commission obtained in an effort to allow the Chapter 11 Debtors to obtain this information… The US Debtors’ continued lack of diligence when making public statements concerning the Commission is disappointing.”

The Supreme Court of The Bahamas further expressed apprehensions that its investigation is being jeopardized by the chapter eleven Debtors’ insistence on repudiating the Court Supervised Joint Provisional Liquidators admittance to FTX’s Amazon Web Services System.

Interestingly, the regulator urged chapter eleven Debtors to continue with matters bearing the best interest of FTX customers and creditors.