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The Securities Commission of The Bahamas has criticized FTX's new boss, John J. Ray III, over "misstatements," which were intended only to make "headlines and advance questionable agendas."
The financial regulator said in a press release that Ray continues referring to redacted email correspondence between FTX's former head, Sam Bankman-Fried, and the Commission, which were designed to "create a false impression."
"The Commission also finds it disturbing that, either deliberately or through ignorance, Mr. Ray’s filings and communications continue to wrongfully confuse as one, the actions of the Government of The Bahamas, the Securities Commission of The Bahamas and the Court Appointed/Court Supervised Joint Provisional Liquidators," the document reads.
The FTX drama continues in Washington, where Ray testified before the House Financial Services Company. In his opening statement, Ray noted that there had been "extraordinary" response from Bahamian authorities on the collapse.
Ray said that the Bahamian authorities made no request to FTX about freezing the assets, but simply "took it," adding that the funds were moved out after FTX filed for bankruptcy.
Sam Bankman-Fried, the Founder of the collapsed cryptocurrency exchange FTX, w was arrested in the Bahamas on Tuesday as US prosecutors filed criminal charges. The US Securities and Exchange Commission (SEC) has also charged the disgraced crypto billionaire with defrauding investors of more than $1.8 billion.
