Bahamas Securities Commission: Did not require FTX to provide withdrawal facilitation, customer funds have been withdrawn according to bankruptcy proceedings or may be reclaimed

ChainCatcher news, according to the official announcement from the Bahamas Securities Commission, the Commission did not instruct, authorize, or suggest that FTX prioritize withdrawals for Bahamian customers. The announcement stated that such transactions may be classified as avoidable preferences under bankruptcy law, which could lead to the recovery of funds from Bahamian customers. In any case, the Commission will not tolerate any preferential treatment for investors or customers of FTX or other institutions.

Previously, on November 11, FTX officially posted on social media: "In accordance with the regulations of the Bahamian headquarters and regulatory authorities, FTX has begun facilitating withdrawals for Bahamian funds. Therefore, users may have seen that FTX recently processed some withdrawals, which complied with regulatory requirements. The amount withdrawn is only a small portion of FTX's current available assets, and FTX is actively developing other avenues to provide withdrawal services for the remaining user base." (Source link)