National
PM Defends Country’s Reputation After FTX Collapse
NASSAU, BAHAMAS – Prime Minister Philip Davis again defending the country’s reputation amid the fallout of crypto company FTX.
NASSAU, BAHAMAS – Prime Minister Philip Davis again defending the country’s reputation amid the fallout of crypto company FTX.
Davis told reporters yesterday that the jurisdiction shouldn’t be blamed because the company went into liquidation, noting that FTX wasn’t the first.
The Prime Minister’s comments come days after former CEO Sam Bankman-Fried was remanded to The Bahamas Department of Correction as he fights extradition.
FTX filed for bankruptcy in November after going through a crisis.
The Securities Commission of The Bahamas froze the company’s assets and the Supreme Court appointed a provisional liquidator.
Davis says the fall of the crypto company has nothing to do with the countries regulatory regime.
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