- The Bahamian government blasted the person in charge of restructuring crypto exchange FTX, the latest salvo in an escalating fight over what remains of Sam Bankman-Fried’s crumbled empire.
- Attorney general calls remarks in bankruptcy ‘regrettable’.
FTX’s downfall has rippled across the crypto markets and cast a spotlight on the Bahamas and its burgeoning crypto industry.
Tensions have been rising after more than 100 FTX companies filed for bankruptcy in the US on Nov. 11.
The Bahamian government blasted the person in charge of restructuring crypto exchange FTX, the latest salvo in an escalating fight over what remains of Sam Bankman-Fried’s crumbled empire.
Bahamas Attorney General Ryan Pinder on Sunday said that recent statements made in US bankruptcy proceedings by John J. Ray III were “regrettable” and misrepresented actions taken by the nation’s securities watchdog.
While lawyers for the crypto exchange have accused Bankman-Fried of undermining reorganization efforts with “incessant and disruptive tweeting.”, they have also raised the suggestion that some FTX assets were ordered to be transferred to the Bahamian government after the bankruptcy filing.
“We do not apologize for our ambition for Bahamians to be at the forefront of this exciting innovative sector,” Pinder said. “The Bahamas stands behind its decision to regulate digital assets and related businesses. We stand behind the quality of the regulations that exist.”
