The Bahamian government is still looking into the failed cryptocurrency exchange FTX. Ryan Pinder, the Attorney General of the Bahamas, said on Sunday that the investigation into FTX is just getting started.
The 20-minute speech, which was live-streamed online, talked about the now-defunct cryptocurrency exchange FTX more than 40 times, but only once mentioned Sam Bankman-Fried by name as the disgraced company’s founder.
The Attorney General also said the following:
“We are shocked by how stupid people are who say FTX moved to the Bahamas because they didn’t want to be watched by regulators.” In fact, there are many countries in the world where there are no laws or rules about crypto and digital asset businesses. The Bahamas, however, is not one of these countries.
Pinder also thinks that “guessing games and rumours have covered up the basic facts,” and he points out that FTX’s failure was just one of a string of business failures in the past few months. He also said that the best way to explain what happened is that it was the failure of a very large business due to questionable internal management practises and poor corporate governance.
Related:Â Exclusive: Bankman Fried’s parents spent $121 million on a home in the Bahamas.
In other news, Ben Armstrong, who started BitBoy Crypto, flew to the Bahamas to try to talk to Sam Bankman-Fried, the former CEO of FTX. Armstrong was seen camping near Bankman-House Fried’s in the Bahamas not long ago.
In a Twitter recording, Armstrong can be heard asking Bankman-Fried to meet with him:
Sam… Where do you live? We want to find you. I just want to talk, Sam. I know you’re at that point, buddy. It’s Ok. Sam, seriously, all we want you to do is come tell us your story. Let me back in on Twitter. Come tell us about yourself. Let’s talk”.
The influencer then criticised Bankman-Fried after FTX went out of business, which caused a crypto crash. After FTX went out of business, he also went after the celebrities who had been seen promoting the company.
The post The Bahamas Are a Country of Laws: Attorney General of the Bahamas appeared first on Coin Edition.
