Securities Fee of the Bahamas says debtors of the bankrupt cryptocurrency trade had ‘incomplete data.’

The Securities Fee of the Bahamas (SCB) has rebuffed FTX’s claims concerning the digital belongings of its Bahamas unit held by the regulator, saying the debtors of the bankrupt cryptocurrency trade had “incomplete data”.

Final month, the SCB stated it had seized greater than $3.5bn in cryptocurrency from the unit, FTX Digital Markets, which it was holding for future compensation to clients and different collectors.

FTX disputed SCB’s calculations, saying its digital belongings seized in November had been price simply $296m and never $3.5bn.

“Such public assertions by the Chapter 11 debtors had been primarily based on incomplete data,” the regulator stated in an announcement on Monday.

There was no speedy response from FTX, which has been at odds with Bahamian officers since submitting for chapter safety on November 11.

Bahamas officers have sought entry to FTX’s data to assist liquidate FTX Digital Markets, however the firm’s US chapter workforce stated it didn’t belief them with the data.

FTX’s founder and former chief govt, Sam Bankman-Fried, was arrested on fraud costs final month and is predicted to be arraigned on Tuesday earlier than US District Decide Lewis Kaplan in Manhattan federal court docket.

The agency’s new chief govt, John Ray, has stated the trade misplaced $8bn of buyer cash.