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<ul><li>FTX&#39;s troubles began on November 6, 2022, following Binance&#39;s announcement.</li><li>Bahamas Securities Commission froze the assets of struggling cryptocurrency exchange FTX&#39;s local affiliate on Thursday.</li></ul><h2 id="header-0">As Sam Bankman-Fried&#39;s crypto empire crumbles, securities regulators in the Bahamas opted to seize FTX.com&#39;s assets.</h2>The Bahamas Securities Commission announced on Tuesday that the move to freeze FTX Digital Markets was &#34;the sensible course of action.&#34;Over the past few years, FTX.com has been registered in the Bahamas and has been operating from there. In addition, the authorities have appointed a provisional liquidator to determine whether the company is viable or should be liquidated.This is the first significant measure taken by a securities authority on FTX.com since the situation unfolded over the last week. However, the FTX CEO has refused to file for bankruptcy and has been working on a fresh $9.4 billion funding.In its statement, the Bahamas regulator said, &#34;The commission is aware of public claims implying that clients&#39; money was mishandled, mismanaged, and/or moved to <a href="https://www.coingabbar.com/en/crypto-blogs-details/binance-backed-off-ftx-drama-looks-similar-to-twitter" rel="noopener noreferrer nofollow">Alameda Research</a>. Based on the facts provided by the commission, such actions would have been contrary to regular governance, without customer approval, and perhaps illegal.&#34;FTX Digital Markets is the Bahamian subsidiary of FTX Trading, popularly known as FTX.com. It offers consumers derivatives, options, and other products and services.FTX Chief Announces the Closure of Alameda ResearchOn Thursday, the FTX Chief also revealed his intention to shut Alameda Research, the company&#39;s trading house at the center of the current turmoil. In addition, the SEC is looking into Sam Bankman-Fried for alleged violation of securities laws.FTX US&#39;s general counsel, Ryne Miller, stated in an internal memo to employees: “FTX US appears to be set to make payroll at least in the next cycle. Individuals should be prepared to make their own decisions on the next steps based on their individual circumstances.”In a tweet on Thursday, SBF stated that <a href="https://www.coingabbar.com/en/crypto-currency-news/former-cftc-commissioner-joins-ftx-us-derivatives-board" rel="noopener noreferrer nofollow">FTX US</a> was &#34;100% liquid&#34; and was not financially impacted by the activities of FTX.com. However, FTX US may suspend trading activities in the coming days, and users are advised to close down any positions.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news/genesis-trading-reveals-dollar-million-exposure-to-ftx" rel="noopener noreferrer nofollow">Genesis Trading Reveals $175 Million Exposure to FTX</a>

Bahamas Securities Commission Has Frozen FTX's Assets

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