FTX Buying and selling and its debtors have notified the Bahamas Securities Fee that neither Sam Bankman-Fried, Gary Wang, nor the Bahamas Securities Fee had the precise to take the cryptocurrency of FTX debtors, he mentioned in an announcement Friday night.

Late Thursday, the Securities Fee mentioned it took management of FTX digital belongings valued at greater than $3.5 billion as of November 12, because it “decided there was a big threat of imminent dissipation” in the event that they remained beneath FTX’s management. This assertion didn’t establish the kind of digital belongings seized.

The debtors mentioned they’ve proof that roughly 195 million FTT tokens (FTT-USD), 1,938 ethers (ETH-USD) and different miscellaneous cash of no substantial worth had been transferred, with out their permission, after the corporate filed for Chapter 11 chapter. Blockchain data exhibits that this crypto is held in a single digital pockets on Fireblocks .

The worth of the cryptocurrency at spot costs on the time of the switch was roughly $296 million, the debtors mentioned, citing etherscan.io. This worth, nevertheless, assumes that FTT tokens (FTT-USD) within the Portfolio could possibly be offered on the spot worth at the moment. The worth of the identical crypto at spot costs as of two:00 p.m. ET on December 30 was round $167 million.

“FTX Debtors urge the Bahamas Fee to clear up any confusion created by their current statements and supply the general public with correct data relating to the seized cryptocurrency and the way it was valued for functions of those statements,” the assertion learn. debtors.

Earlier Friday, FTX Japan and Liquid Japan purpose to renew withdrawals in February.