Bahamas appoint PwC as FTX liquidators

The Securities and Exchange Commission in the Bahamas said it is leading an investigation into a Nassau-based cryptocurrency company. There are growing headaches for Bankman-Fried.

Financial regulators in the Bahamas are investigating FTX and adding to the long list of those implicated in the collapse of Sam Bankman-Fried’s $32 billion cryptocurrency empire.

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Two PwC partners, one based in the Bahamas office and the second in Hong Kong, were named as liquidators.

The Securities and Exchange Commission in the Bahamas said it is leading an investigation into a Nassau-based cryptocurrency company and has secured the court appointment of interim liquidators.

“Given the magnitude, urgency and international implications of the unfolding events in relation to FTX, the commission recognised that it needed to move quickly to further protect the interests of customers, creditors and other stakeholders globally,” the commission said.

The move increases the legal risks facing Bankman-Fried and his companies after the 30-year-old former billionaire filed for bankruptcy in Delaware on Friday.

The U.S. Securities and Exchange Commission recently expanded an investigation into FTX, which includes client fund management, according to a person familiar with the matter.

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