{"id":8784,"date":"2022-11-26T11:01:45","date_gmt":"2022-11-26T11:01:45","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=8784"},"modified":"2022-11-26T11:01:45","modified_gmt":"2022-11-26T11:01:45","slug":"bahamas-securities-commission-calls-ftx-ceo-john-rays-allegations-inaccurate-says-its-actions-were-misinterpreted","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8784","title":{"rendered":"Bahamas Securities Commission calls FTX CEO John Ray&#8217;s allegations inaccurate; says its actions were &#8216;misinterpreted&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>The Securities Commission of The Bahamas (SCB) rejected FTX\u2019s CEO John Ray III\u2019s allegations that it directed unauthorized access to the embattled exchange\u2019s system after it filed for bankruptcy, according to a Nov. 23 press statement.<\/p>\n<p lang=\"en\" dir=\"ltr\">Securities Commission of The Bahamas Statement on Transfer Motion In FTX Digital Markets Chapter 15 Proceedings. https:\/\/t.co\/CB5f7w1wGT pic.twitter.com\/ZMqrbU6vhf<\/p>\n<p>\u2014 Securities Commission of The Bahamas (@SCBgov_bs) November 24, 2022<\/p>\n<p>SCB said the FTX CEO had relied on statements from individuals the exchange had declared to be \u201cunreliable\u201d and \u201cpotentially seriously compromised\u201d to make its \u201cintemperate and inaccurate\u201d allegations.<\/p>\n<p>Defending its position, the regulator said its timely action to protect customers\u2019 funds has been \u201cmisinterpreted.\u201d According to the SCB, it had secured a Nov. 12 court order that authorized the transfer of FTX\u2019s assets to wallets under its control.<\/p>\n<p>The regulator added that this timely action protected the digital assets under its control from associated risks like hacking and compromise.<\/p>\n<p>SCB highlighted that the statements made by FTX proved the wisdom in its decision as the exchange said, \u201cthey have suffered significant thefts, that their systems were compromised,<br \/>and that they continue to face new hacking attempts.\u201d<\/p>\n<p>A Nov. 17 court filing from FTX said it had credible evidence that the Bahamian government was responsible for directing the unauthorized access to its systems after it filed for bankruptcy.<\/p>\n<p>The exchange also alleged that former CEO Sam Bankman-Fried and CTO Gary Wang were behind the Nov. 13 events.<\/p>\n<p>Meanwhile, the Bahamas Supreme Court has ordered the bankrupt crypto exchange to indemnify and reimburse the SCB for any expenses incurred while safekeeping its digital assets.<\/p>\n<p>Posted In: FTX, Bankruptcy<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/bahamas-securities-commission-calls-ftx-ceo-john-rays-allegations-inaccurate-says-its-actions-were-misinterpreted\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities Commission of The Bahamas (SCB) rejected FTX\u2019s CEO John Ray III\u2019s allegations that it directed unauthorized access to the embattled exchange\u2019s system after it filed for bankruptcy, according to a Nov. 23 press statement. Securities Commission of The Bahamas Statement on Transfer Motion In FTX Digital Markets Chapter 15 Proceedings. https:\/\/t.co\/CB5f7w1wGT pic.twitter.com\/ZMqrbU6vhf \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-8784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8784"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8784\/revisions"}],"predecessor-version":[{"id":8786,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8784\/revisions\/8786"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8785"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}