The Supreme Court of the Bahamas approved partners from PricewaterhouseCoopers, also known as PwC, as provisional liquidators to oversee the assets of crypto exchange FTX.
(Bloomberg) — The Supreme Court of the Bahamas approved partners from PricewaterhouseCoopers, also known as PwC, as provisional liquidators to oversee the assets of crypto exchange FTX.
The Bahamas Securities Commission wrote in a statement that it “moved swiftly to use its regulatory powers” to further protect clients. Sam Bankman-Fried’s FTX empire filed for Chapter 11 bankruptcy in Delaware on Friday. FTX is registered in the Bahamas.
“Over the coming days and weeks, the Commission expects to engage with other supervisory authorities on a regulator-to-regulator basis as this event is multijurisdictional in nature,” the Securities Commission press release said.
The Bahamian police said Sunday they are working with the country’s Securities Commission to investigate whether there was any criminal misconduct in the collapse of FTX.
Read more: FTX Latest: Bankruptcy May Involve More Than a Million Creditors
For crypto market prices: CRYP; for top crypto news: TOP CRYPTO.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
