NASSAU, BAHAMAS — The Supreme Court yesterday approved Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers (PwC) as joint provisional liquidators for FTX Digital Markets.
The Securities Commission of The Bahamas had applied to the Supreme Court to appoint Brian Simms, KC, as a court-supervised provisional liquidator on November 10.
In a statement, the commission acted using 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”.
The commission said it recognized the need to move swiftly given the “magnitude, urgency, and international implications of the unfolding events with regard to FTX”.
The statement continued: “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.
“The Commission is the lead authority in The Bahamas conducting the investigations into the events and parties, including, but not limited to, FTX Digital Markets Ltd. (a regulated entity), FTX Trading Ltd., Alameda Research Ltd. and other related entities whose centre of main interest, direction and management were purportedly located in The Bahamas.”
It added: “The investigations into these events are ongoing, and the Commission will extend its full assistance to the police if and when required.”
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