Bahamas Securities Regulator Says It Didn’t Order FTX to Reopen Local Withdrawals

The Securities Commission of the Bahamas (SCB) published a statement on Twitter Saturday suggesting that a recent tweet by FTX admitting that Bahamian users were able to withdraw funds at the regulator’s urging was inaccurate. FTX declared bankruptcy on Friday, days after a deal for Binance to acquire the exchange fell through. Despite this halt, some users managed to withdraw nearly $7 million worth of various cryptocurrencies within a few hours on Thursday morning, data from Nansen showed. A number of FTX users based outside the Bahamas also appeared to try and withdraw funds with the help of local users. The foreign users bought high-valued NFTs from Bahamas-based users, presumably with an agreement that the Bahamians would be able to withdrawal and keep some amount of the locked-up funds. . . .