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The Securities Commission of the Bahamas has revealed that it seized digital assets worth more than $3.5 billion from the collapsed crypto exchange FTX. The regulator explained that the cryptocurrencies were transferred to its wallets “for safekeeping” and “are being held by the Commission on a temporary basis.” Bahamas Regulator Seizes
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Shortly after FTX filed for bankruptcy, about $372 million worth of tokens were stolen from the exchange by an unknown actor thought to be an external hacker. Given media reports of a cyberattack on FTX, and possible looting of FTX-controlled wallets by former employees, the Commission said in its media
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Bahamas Attorney General Ryan Pinder announced that Sam Bankman-Fried was being extradited to the U.S. "tonight" in a Wednesday statement. Original Source
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Reports suggested the former FTX CEO was going to waive any extradition challenge. Source
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Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX has reportedly filed a new application for bail in the Bahamas Supreme Court following his previous unsuccessful bail bid.Local media on Dec. 15 reported the founder submitted the application and that it would be heard before the court in just
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Ryan Salame, the co-chief executive of FTX's Bahamas entity, called FTX Digital Markets, told the Bahamas Securities Commission on Nov. 9 that "clients’ assets which may have been held with FTX Digital were transferred to Alameda Research," according to a letter to the Bahamas Police Commissioner disclosed this week. This
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According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets told the Securities Commission of the Bahamas (SCB) on Nov. 9 that FTX was sending customer funds to its sister trading firm Alameda Research.He also told the SCB only three people had
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Testimony from new boss John Ray has proven inflammatory in the Bahamas, where parallel proceedings are attempting to wind up the crypto exchange Source
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Magistrate Judge Joyann Ferguson-Pratt ordered that there be an extradition hearing next year, on Feb. 8, 2023, at 10:00 a.m. ET. Bankman-Fried's attorneys initally asked the judge to consider that he be released on a $250,000 bail, arguing he needed to be able to regularly take medication, including Zyrtec, an
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According to local sources, on Dec. 13, crypto executive Sam Bankman-Fried's (SBF) lawyers have requested bail in a Bahamas' Magistrate Court after his arrest on Dec. 12 pending extradition request by U.S. authorities. The move comes after presiding judge Chief Magistrate JoyAnn Ferguson-Pratt stated earlier today that SBF had the
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