The Bahamas Securities Commission has taken exception to FTX CEO John Ray’s assertions regarding the value of seized FTX assets, pointing out that such comments could erode the trustworthiness of national institutions.

The commission noted that it had to “set the record straight” on Ray’s misstatements and that the assumptions of asset worth were based on partial data.

It was also critical of Ray’s assertion that the commission had instructed the creation of “a considerable quantity of fresh tokens.”

The commission verified that it currently has $3.5 billion in FTX assets, using prices from 12 November, and that it will retain them until instructed to distribute them to creditors.

FTX customers in Japan can expect to be able to withdraw their funds from the exchange in February.