FTX Digital Markets, one of the many entities associated with the imploding cryptocurrency exchange, has hired Holland & Knight in a bid to persuade a U.S. Bankruptcy Court to recognize that the Bahamas has jurisdiction over its liquidation.

Last week, FTX Trading Ltd, FTX’s foundation company, announced its own Chapter 11 bankruptcy, which is being handled by Sullivan & Cromwell in Delaware. FTX Digital Markets is the Bahamas-based component and headquarters of the enormously complex multinational company, whose assets were frozen by Bahamian authorities last week.