Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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The Bahamas seized $3.5 billion in FTX digital assets.
The country’s Securities Commission took control of the assets soon after the crypto exchange filed for bankruptcy in the US in November, and the value is based on crypto prices at the time — it’s likely changed significantly since then.
The regulator “determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of FTXDM to the prejudice of its customers and creditors,” it said in a Dec. 29 media release. That tracks.
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