Crypto assets of SBF seized by Bahamas authorities
In this newsletter :
Cryptocurrency prices today: Bitcoin, Eth were down, while some other coins like Binance (BNB) were trading with gains
The cryptocurrency market on December 30 was mostly trading mixed with prices of some coins falling and few entering and staying in the green zone. Bitcoin (BTC), Ethereum (ETH) were down trading with losses, while Binance (BNB) and Solana (SOL) were trading with gains.
The overall crypto market cap was down by 0.17 per cent to $794.66 billion and its trading volume was up by 3.87 per cent to $27.38 billion,
At $16,559.50, BTC was down 0.25 percent. At $16,022,261,339, BTC's trading volume increased by 14.48 percent. For the past 24 hours, BTC has been trading in the red. Over the previous 24 hours, it fluctuated between a range of $16,408.48 and $16,612.35.
The price of Ethereum (ETH) dropped 0.21 percent to $1,195.65 on the previous day as of Friday morning.The red zone was where Ethereum was most prominent. It was fluctuating between $1,187.46 low and $1,200.14 high. On December 31 it briefly entered the green zone before it resumed trading at a loss.
This morning, Binance (BNB) was trading in the uptrend. It was trading in the $243.13 to $245.95 range, up 0.03 percent at $245.58.
Crypto assets worth $3.5 billion of FTX were seized, according to a Bahamas official.
In mid-November, as the cryptocurrency exchange teetered on the brink of bankruptcy, Bahamas securities officials claimed to have confiscated digital assets from its local company valued at $3.5 billion. However, FTX's American managers disputed that claim on Friday.
Christina Rolle, executive director of the Securities Commission of the Bahamas, said in an affidavit made public Thursday that the commission sought control of the crypto assets held by FTX Digital Markets Ltd. last month after FTX co-founder Sam Bankman-Fried told local authorities under oath about a hacking attempt. Her affidavit, filed with the Supreme Court of the Bahamas, also confirmed that the Securities Commission relied on Mr. Bankman-Fried and another FTX co-founder, Gary Wang, to make the transfers happen.
The statement of Ms. Rolle sheds additional light on the actions taken by regulators in the Bahamas, where FTX operated its disastrous exchange operation, in the wake of the firm's demise, including the transfer of local assets to state coffers. Her affidavit states that the value of those tokens at the time of the transfer was $3.5 billion.
