Government Entity That Seized FTX Crypto Assets Steps Forward
Posted on AllSides November 18th, 2022
From The Right
Ting Shen/Bloomberg via Getty Images
Law enforcement in the Bahamas revealed on Thursday that officials seized assets belonging to defunct cryptocurrency platform FTX and moved them to a government-controlled wallet for “safekeeping.”
The cryptocurrency platform, which was controlled by young multibillionaire Sam Bankman-Fried, filed for bankruptcy last week after users discovered that trading firm Alameda Research, a company run by former Bankman-Fried love interest Caroline Ellison, had allegedly been using consumer holdings from FTX to make investments.
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