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Bahamas regulator refutes John Ray’s claims about value of seized FTX assets

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Bahamas Securities Commission challenges FTX CEO John RAY

The Bahamas Securities Commission has criticized FTX CEO John Ray over his remarks on the value of seized FTX assets, stating that such comments could impact the trustworthiness of institutions in the country.

The commission said that it must “correct material misstatements” made by Ray and that the assumptions about the value of the seized assets were based on incomplete information.

It also took issue with Ray’s claim that the commission had ordered the minting of “a substantial amount of new tokens.”

The commission confirmed that it has $3.5 billion worth of FTX’s assets, according to prices on 12 November, and will continue to hold them until ordered to distribute them to creditors.

FTX customers in Japan will be able to withdraw their funds from the exchange starting in February.

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