FTX personnel in US, Bahamas to coordinate cryptocurrency recovery – Business

FTX personnel in US, Bahamas to coordinate cryptocurrency recovery – Business



FTX personnel in US, Bahamas to coordinate cryptocurrency recovery

Business


Two sides will cooperate to exchange information, protect assets and plan legal action against third









(Reuters) – A disagreement that might have prevented the recovery of potentially billions of dollars in lost cash has been resolved by the bankruptcy team for FTX in the United States agreeing to work with liquidators closing down the crypto exchange s operations in the Bahamas.

The two sides said they will cooperate to exchange information, protect assets, and plan legal action against third parties in a joint statement released on Friday.

Since duelling bankruptcies were filed in the two nations in November, FTX s US bankruptcy team has been at conflict with Bahamian authorities.

Authorities in the Bahamas have confiscated FTX assets, which, according to authorities, was done to protect assets that would eventually be delivered to FTX Digital Markets  creditors.

 

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