ZNS News has learned that the domestic employees of FTX Digital Markets feel betrayed, bewildered and dismayed at what has taken place at the cryptocurrency facility. Many of these employees are seeking new job opportunities.

The latest update from the Securities Commission of The Bahamas on the FTX investigations came in the form of a press statement dated November 14th.

The statement said, “on 10 November 2022, the Securities Commission of The Bahamas (“the Commission”) applied to the Supreme Court to appoint Mr. Brian Simms, KC as a court supervised provisional liquidator. Further, on 14 November 2022, Messrs. Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers (“PwC”) were approved by the Court 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 Ltd. (FDM).

Over the coming days and weeks, the Commission expects to engage with other supervisory authorities on a regulator-to-regulator basis as this event is multijurisdictional in nature.”