FTX on Friday disputed claims by the Securities Commission of the Bahamas (SCB) that the regulator was holding $3.5 billion of the bankrupt cryptocurrency exchange's assets.    

When the Commission seized the digital assets of FTX in November, they were worth just $296 million, FTX said in a statement. FTX urged the commission to "clear up any confusion" about the assets it holds and their value.

The regulator began liquidation proceedings against FTX Digital Markets Ltd., the company's Bahamas-based unit, in November. FTX said it will seek the return of any assets seized, because FTX DM is only a "local service company" which does not own the FTX.com exchange or any of the cryptocurrency seized.

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