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FTX's Bahamas unit's digital assets were transferred to digital
wallets under the exclusive control of the commission in
November soon after the company and its hedge fund Alameda
Research and dozens of affiliates filed for U.S. bankruptcy.
Upon completion of the transfer, FTX founders Sam Bankman-Fried
and Gary Wang no longer had access to the tokens that were
transferred or frozen, the executive director of the commission,
Christina Rolle, said in an affidavit filed with the Bahamas
Supreme Court.
"All transferred assets were and remain under the sole control
of the commission," Rolle said.
Lawyers for crypto exchange FTX earlier this month opposed a
demand for internal records from its Bahamian business, saying
they "do not trust" the Bahamian government with data that could
be used to siphon off assets from the bankrupt company.
The authorities in the Bahamas, where the company had its
headquarters, appointed liquidators to wind down FTX's
international trading business soon after the company announced
bankruptcy.
(Reporting by Urvi Dugar and Akanksha Khushi in Bengaluru;
Editing by Leslie Adler)
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