Cashed-up crypto exchange FTX heads to Bahamas closer to Tether As jurisdictions, like the Bahamas, roll out comprehensive crypto regulatory regimes, we are excited to take part by establishing a local presence., On Sept. 24, FTX CEO Sam Bankman-Fried elaborated on the decision in an, Bankman-Fried also said that it was also really important for us to be in a place where we could go on business trips, where there isnt quarantine, and that the move had been in the works for some time and was not particularly in response to any very recent news., Volatile Price Moves on Monday Contrast to Recent Calm Waters, First Mover Asia: Bitcoin Market Cap Is Surging, but a Retreat From $30K Continues, First Republic Bank Seized and Sold to JPMorgan Chase; Tron's Justin Sun Apologizes After Binance CEO Fires Warning, Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank. In January, the company revealed plans for the $60 million campus, with FTX Digital Markets CEO Ryan Salame telling the Nassau Guardian that the facility would house 1,000 people. [30], On January 14, 2022, FTX announced a $2 billion venture fund named FTX Ventures,[31] raising $400 million in Series C funding at a $32 billion valuation that month. [136], The sudden collapse of FTX has been compared to the bankruptcy of Lehman Brothers in publications such as The New York Times and the Financial Times. [45] Bankman-Fried, at points, defended Alameda's use of FTX as a liquidity provider. Bahamian Prime Minister Doesn't Regret FTX | Currency News | Financial [46][47][52], Several months after Bloomberg's initial report on the relationship between the two firms, on November 2, 2022, CoinDesk reported that a significant portion of Alameda Research's assets were held in FTT, the exchange token issued by FTX. FTX Establishes Substantial Presence in the Bahamas and Appoints Ryan [140] The financial impact of the collapse having reached beyond the immediate FTX customer base,[141] financial industry executives said at a Reuters conference that "regulators must step in to protect crypto investors. 2023 Fortune Media IP Limited. On the day of that announcement, FTT price dropped by 80 percent, erasing $2 billion in value. We are committed to maintaining a close working relationship with local regulators so that together we can navigate putting a comprehensive regulatory framework in place to help promote the growth of this nascent asset class.". Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era.
Ksucpm Academic Calendar, Articles F