Bahamas regulators are looking into the FTX collapse

The Bahamas' authorities are looking into the unexpected collapse of the crypto exchange FTX, and the Royal Bahamas Police have announced that they are examining if any criminal misbehavior occurred.

Before diving into this piece, you may want to catch up on some relevant stories, like how BlockFi suspended withdrawals after the FTX disaster and how the FTX and Alameda collapse caused another pause, this time on BlockFi.

Following the worldwide fall of FTXs and the temporary liquidation of FTX Digital Markets Ltd., the Royal Bahamas Police Department says a team of financial detectives is collaborating closely with the Bahamas Securities Commission.

The Bahamas Securities Commission froze the assets of FTX Digital Markets and linked parties a few days ago as a precaution to protect the assets and stabilize the firm.

Meanwhile, FTX declared Chapter 11 bankruptcy, and SBF resigned as CEO. The fallout has been severe, with FTX purportedly becoming the victim of a $600 million breach.

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