FTX: The Bahamian regulator holds only $290 million in assets from FTX instead of $3.5 billion, most of which is FTT

ChainCatcher news, according to Reuters, FTX has disputed and clarified the Bahamas Securities Commission's (SCB) seizure of $3.5 billion in FTX assets, stating that when the Bahamian regulators confiscated FTX-related digital assets in November, their value was only $296 million. Most of the seized cryptocurrencies were FTX's FTT, which had dropped to a value of $167 million by December 20.

ChainCatcher previously reported that the SCB stated it took control of $3.5 billion in digital assets from FTX Digital Markets shortly after the company filed for Chapter 11 bankruptcy protection. The reason for seizing the assets was due to concerns arising from the SBF incident, as well as cyberattacks on the trading platform, which made the Bahamas aware of the risk that the assets were "about to dissipate." (source link)