Lawyers for the bankrupt crypto exchange FTX on Wednesday opposed a demand for internal records from an insolvent affiliate based in the Bahamas, saying they 'do not trust' the Bahamian government with data that could be used to siphon off assets from the bankrupt company.
Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022.
FTX attorney James Bromley told Dorsey that the Bahamian government has previously obtained information from FTX Digital Market's liquidators and used it to siphon digital assets away from FTX.The Securities Commission of the Bahamas has previously disputed FTX's "misstatements" about the Bahamian government's response to FTX's collapse.
Dorsey began the hearing by asking whether FTX and the Bahamas liquidators could reach a compromise on data sharing before Bromley shot that suggestion down.
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