In a statement, FTX claimed that the value of its digital assets at the time SCB seized them in November of this year was about $296 million.
The exchange requested that SCB explain its holdings and their worth. SCB started liquidating FTX Digital Markets Ltd., its Bahamian subsidiary, in November.
Since FTX DM is merely a "local services company" and does not own the exchange or any of the confiscated cryptocurrencies, the company stated that it would work to have all of the assets returned.
SCB announced on Thursday that it had ownership of more than $3.5 billion in exchange-owned digital assets, which will be utilized in the future to pay back consumers and other creditors. The kind of assets or their cost were not made clear by SCB.
Authorities in the Bahamas and FTX have been at odds since since the business filed for bankruptcy on November 11. Bahamian officials have asked for access to the exchange data to aid with the liquidation of FTX DM, but the US bankruptcy team has said that they do not trust Bahamian officials with such information.
Federal authorities are investigating many cryptocurrency transactions that web experts have linked to digital wallets related to disgraced crypto billionaire Sam Bankman-Fried, Prosecutors from the Southern District of New York (SDNY) are looking into whether Bankman-Fried is carrying out the transactions himself or whether he is illegally cashing out his own assets.