NASSAU, BS – In a court hearing Wednesday, a court-appointed liquidator said FTX moved $7.7 billion of assets from its Bahamian estate to its U.S. counterparts just days before it filed for bankruptcy on Nov. 11, 2022. 

Liquidators in the Bahamas discovered that $5.6 billion was sent from the Bahamas to custodial accounts of FTX Digital and another $2.1 billion to Alameda Research. 

Christopher Shore, a lawyer for the liquidators, told the Delaware bankruptcy court “we have other tangible assets of about $3 million, mostly relating to office furniture, equipment and the fleet of care that the employees had in the Bahamas.”

The movement of assets raises questions about whether the assets belong to the U.S. estate of the Bahamian estate, determining which country will have jurisdiction.