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November 29, 2022

A Couple PwC Partners Have Been Quickly Assigned as Joint Provisional Liquidators of FTX

FTX Arena in Miami

Kevin Cambridge and Peter Greaves of PwC were approved by the Supreme Court of the Bahamas as joint provisional liquidators of failed crypto exchange FTX.

From the press release [PDF]:

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.

FTX filed for bankruptcy protection in the U.S. late last week.

Related:
Sam Bankman-Fried’s FTX Empire Faces US Probe Into Client Funds, Lending [Bloomberg]

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