Bahamas regulators investigate FTX client withdrawals: Bloomberg

Quick Take

  • Bahamas officials are seeking to understand whether FTX executives knew about or played a role in client withdrawals that took place after the exchange’s assets were frozen by authorities, sources told Bloomberg. 

Whether or not FTX executives played a role in client withdrawals that took place after the exchange saw its assets frozen is now under investigation by Bahamian authorities, Bloomberg News reported, citing sources.

FTX former CEO and co-founder Sam Bankman-Fried was interviewed in his Nassau residence a number of times by investigators, sources with knowledge of the matter told Bloomberg. The probe seeks to better understand if Bankman-Fried and co-founder Gary Wang had knowledge or involvement in the transactions.

Bahamian authorities are studying relationships between, which is registered locally as FTX Digital Markets Ltd., and sister trading firm Alameda Research.

Bankman-Fried is set to provide virtual testimony before Congress tomorrow, opting out of an in-person appearance in light of what he said was an “overbooked” schedule.

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