National

Not Enough Done to Defend Local Reputation, Says FNM

NASSAU, BAHAMAS – The Official Opposition slamming the Davis administration for not doing enough to defend The Bahamas as the country’s reputation came under fire following the fall of FTX.

Published

1 year ago

December 12, 2022

Berthony McDermott

NASSAU, BAHAMAS – The Official Opposition slamming the Davis administration for not doing enough to defend The Bahamas as the country’s reputation came under fire following the fall of FTX.

The Free National Movement is lambasting the government, suggesting they need to do more to protect the country’s image.

Recently, Attorney General Ryan Pinder sought to defend the government’s handling of the collapse of the crypto giant while seeking to clarify admissions he called false.

However, Central Grand Bahama Member of Parliament Kwasi Thompson says it was insufficient.

Last month, following a liquidity crisis, the Securities Commission of The Bahamas froze FTX’s assets and applied to the Supreme Court to put the company into liquidation.

Among his final acts as FTX CEO, Sam Bankman-Fried filed for Chapter 11 Bankruptcy Protection in the United States on November 11, which followed his resignation.

While contributing to the National Investments Funds Bill 2022, Thompson also asked why there hasn’t been an update on the status of the investigation.