The swift collapse of the cryptocurrency exchange FTX and the arrest of its founder Sam Bankman-Fried could lead one to think that the complexities of crypto are at the root of the company's collapse..
FTX US, the Securities Commission of The Bahamas (SCB) and the Bahamian-appointed joint provisional liquidators (JPLs), who are overseeing the winding up of FTX Digital Markets in The Bahamas, are “working in good faith” to reach a resolution over access to FTX’s data. On December 9, the liquidators filed an emergency motion asking US bankruptcy
The failure of The Bahamas-based FTX cryptocurrency exchange and the resultant fallout has had no impact on foreign relations between The Bahamas and the United States (US), Minister of Foreign Affairs Fred Mitchell insisted in an interview with Bloomberg on Friday, and stressed that there are distinct differences in the roles being played by the
Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.