The government of the Bahamas, the country where ftx and its ex-CEO Sam Bankman-Fried (SBF), reportedly instructed SBF to build a new cryptocurrency after FTX went under. This crypto would then come under the management of the government in the Bahamas.
The Bahamas and FTX
A number of American lawyers told this to Bloomberg. According to them, SBF was requested to create several hundred million in crypto assets. In addition, it is suggested that officials in the Bahamas would assist SBF in regaining access to FTX’s systems after being denied access.
The US lawyers argue that the government of the Bahamas wanted to gain unauthorized access to digital assets placed under the administration of a US court in this way. The lawyers’ claims further escalate the conflict between FTX restructuring executives in the United States and officials in the Bahamas.
John J. Ray was appointed as the new CEO after the demise of FTX and should lead this restructuring process. He recently indicated that he saw with his own eyes that people within the systems of FTX are adding new coins mint goods.
Evidence has also been gathered that SBF and FTX reopened withdrawals for customers in the Bahamas after withdrawals for customers elsewhere in the world were halted. In total, about $ 100 million would be removed from the FTX platform in this way. All these things further substantiate the rumors about a close cooperation between FTX and the government in the Bahamas.
The FTX drama continues
Earlier, John Ray, the new CEO of FTX, said that he has never seen such a complete failure as with FTX. He was also appointed interim CEO in the past after the demise of the infamous Enron. However, according to him, the situation at FTX is still there many times worse than what was presented to him at Enron at the time.
In any case, SBF is now arrested by the authorities in the Bahamas. This was done at the request of the US Department of Justice. He is by the Securities and Exchange Commission (SEC) charged with committing fraud.