The war of words between Bahamian authorities and FTX CEO John Ray III continues to rage over disputes surrounding the bankruptcy of the fallen crypto exchange.
Brown Rudnick partner Hailey Lennon discusses the possible regulatory holes brought to light by FTX's collapse and lawmakers' push for increased crypto regulations.
The Securities Commission of the Bahamas is defending itself against allegations made by FTX CEO John Ray III as the two sides continue to duke it out over the handling of the fallenThe SCB said in a press release Monday it "must once again correct material misstatements" made by Ray, standing by itsthat it seized upwards of $3.5 billion in assets from FTX's Bahamian division, FTX Digital Markets Ltd.
John J. Ray III, CEO of FTX Group, testifies during the House Financial Services Committee hearing titled Investigating the Collapse of FTX, Part I, on Tuesday, December 13, 2022.
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