Bankruptcy in the Bahamas

JR3 has filed a voluntary Chapter 11 bankruptcy petition in Delaware, but there's a competing bankruptcy in the Bahamas. The Bahamian Securities Regulator announced yesterday that it indeed had moved some of FTX's digital assets into cold storage last week for safekeeping. Last week SPF did the rounds again in Silicon Valley with a slapdash pitch of unformatted Excel spreadsheets filled with calculation errors and typos. One investor described it as an investment club level data room.