Two provisional liquidators have been approved by the Supreme Court of the Bahamas to oversee the now-bankrupt cryptocurrency exchange FTX, according to a recent release . Sam Bankman-Fried's crypto empire imploded rapidly last week as traders rushed to withdraw billions of dollars from FTX in the wake of its $8B shortfall. The Bahamian police opened a probe into FTX on Monday to determine whether any "criminal misconduct occurred." The Bahamian supreme court, meanwhile, approved the appointments of PricewaterhouseCoopers's insolvency experts Kevin Cambridge and Peter Greaves to act as joint provisional liquidators. "Given the magnitude, urgency, and international implications of the unfolding events with regard to FTX, the Commission recognized that it had to, and moved swiftly to use its regulatory powers under the Digital Assets and Registered Exchanges Act, 2020 (“DARE Act”) to further protect the interests of clients, creditors, and other stakeholders globally of FTX Digital Markets," the Bahamas Securities Commission said in a statement. Elsewhere in the FTX drama, SBF, who resigned as CEO last week, noted that FTX US had enough to repay all users "to the best of my knowledge as of post-11/7," he wrote earlier in a Twitter post . He also said FTX's sister company Alameda Research "had more assets than liabilities marked-to-market (but not liquid)," and it had a margin position on FTX International. The notice comes after the Bahamas securities regulator said last week that it suspended FTX's assets .
