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Tensions between the FTX\u2019s bankruptcy administration and the Securities Commission of The Bahamas escalated on Tuesday as the watchdog fired back over claims made by CEO John Ray III<\/p>\n\n\n\n
On January 3, the SCB published an announcement in a bid to dispel misinformation that emerged from the new FTX boss. Ray was hired to lead the fallen crypto exchange through bankruptcy shortly after Sam Bankman-Fried unwillingly filed for Chapter 11 protection.<\/p>\n\n\n\n
According to the court documents, Ray\u2019s team claimed that the Bahamas watchdog instructed Bankman-Fried\u2019s exchange to mint roughly $300 million in fresh FTT tokens, the native token of the crippled platform. The SCB countered<\/a> this claim, calling the allegations \u201cunfounded\u201d and based on incomplete reporting. <\/p>\n\n\n\n The US Debtors\u2019 continued lack of diligence when making public statements concerning the Commission is disappointing, and reflects a cavalier attitude towards the truth and towards The Bahamas that has been displayed by the current officers of the Chapter 11 Debtors from the date of their appointment by Sam Bankman-Fried.<\/p><\/blockquote>\n\n\n\n Back in later 2022, the SCB also addressed claims that Bahamas authorities gave FTX permission to open local withdrawals. <\/p>\n\n\n\n