A day after Sam Bankman-Fried’s digital asset empire filed for Chapter 11 protection, the former cryptocurrency mogul was questioned by Bahamian police and regulators, according to a person familiar of the matter. Analysts say that around $662 million worth of tokens have mysteriously exited international and US FTX exchanges.

FTX had begun moving some of its assets to offline wallets and later accelerated those moves “to mitigate the harms by observing unauthorized transactions,” according to US platform general counsel Ryne Miller. According to investment materials seen by the Financial Times, FTX Trading International held just $900 million in liquid assets on Thursday against $9 billion in liabilities.

Former Treasury Secretary Lawrence Summers likened the crash to the demise of energy company Enron Corp, while the Securities and Exchange Commission and Commodity Futures Trading Commission are investigating whether FTX mishandled client funds, according to people familiar with the question.

Crypto financial services platform Matrixport “continues to operate normally and the company has no default risk with respect to developments at FTX and Alameda,” according to public relations manager Ross Gan.

Matrixport had 79 customers who suffered losses due to exposure to three products on its platform that were related to FTX, Gan said.

Kraken Blocks Accounts Possibly Related to FTX (23:33)

Cryptocurrency exchange Kraken said it has frozen Kraken account access to certain funds it suspects are associated with “fraud, negligence or misconduct” related to FTX. Kraken said in a tweet is in contact with law enforcement and plans to resolve each case on a case-by-case basis.

Bankman-Fried Interviewed by Bahamian Police (9:42pm)

Former cryptocurrency mogul Sam Bankman-Fried was questioned on Saturday by Bahamian police and regulators, according to a person with knowledge of the matter. Bankman-Fried did not immediately respond to a request for comment.

The investigation by Bahamian authorities adds to the growing legal pressure Bankman-Fried has been facing since his FTX empire crumbled last week. In the US, she is facing scrutiny from the Securities and Exchange Commission on whether she broke securities rules.

The Bahamas Says It Didn’t Allow Local Withdrawals Through FTX Exchange (9pm)

Bankrupt cryptocurrency exchange FTX’s move to allow withdrawals in the Bahamas has been questioned by the nation’s securities regulator.

The Securities Commission of the Bahamas in a statement on Saturday said it had not “directed, authorized or advised” the priority of local levies to FTX Digital Markets Ltd.

He added that those withdrawals could be recovered.

Jump Crypto Says It Remains Well Capitalized After FTX Exposure (17:59)

Jump Crypto, a cryptocurrency trading firm, told clients on Saturday that it remains “well capitalized” after exposure to FTX. In a series of tweets, Jump said its exposure was “managed in accordance with our risk framework.” The company did not specify the exact nature of its exposure to the collapse of Sam Bankman-Fried’s digital assets empire. The certainty of Jump comes after FTX was hit by a mysterious outflow of approximately $662 million in tokens.

FTX Will Ask For Execution Help On Unauthorized Withdrawals (1:46pm)

FTX is launching an investigation with law enforcement agencies into unauthorized withdrawals from some of its crypto wallets, a company executive said. The company, which filed for bankruptcy this week, said it was working and coordinating with “law enforcement agencies and relevant regulators.”

Liabilities Liquid Assets Devalued: FT (13:13)

FTX Trading held $900 million in liquid assets against $9 billion in liabilities the day before it filed for bankruptcy, the Financial Times reported, citing investment materials and a spreadsheet the paper had seen. Most of the registered assets are either illiquid venture capital investments or crypto tokens that are not widely traded. Thursday’s biggest asset was a $2.2 billion trade in a cryptocurrency called Serum.

Some FTX Staff Leaving for HK: Semafor (11:55am)

Engineers and traders working at FTX and Alameda Research in the Bahamas, where the cryptocurrency exchange is based, have departed for Hong Kong and elsewhere, Semafor said, citing people close to current and former Caribbean-based FTX employees. Bankman-Fried and most of her inner circle are still in the Bahamas, the report said.

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