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Rejecting concerns raised over the collapse of crypto giant FTX and worries that it could negatively impact The Bahamas, Minister of Foreign Affairs Fred Mitchell said yesterday that The Bahamas’ future will in no way be threatened by FTX. “I watched the Wall Street Journal piece yesterday I think it was,” Mitchell, the chairman of
Bahamas-headquartered FTX, its former CEO Sam Bankman-Fried and other company associates spent more than $130 million on real estate in The Bahamas since 2020, according to documents. This is what The Nassau Guardian has been able to track so far, the number is likely higher with US court filings indicating as much as $300 million in property was
FTX US revealed yesterday that an agreement was reached with the Bahamian appointed joint provisional liquidators to transfer their Chapter 15 bankruptcy petition in New York to Delaware and that it hopes to engage in constructive dialogue with the liquidators in the future. James Bromley, proposed co-council for FTX US in the Chapter 11 case,
A Delaware judge will hear a motion Tuesday seeking to transfer the Chapter 15 case filed by provisional liquidators in the Bahamas to the jurisdiction of the Delaware bankruptcy court.
Responding to criticism over the collapse of The Bahamas-based cryptocurrency exchange FTX, Minister of Foreign Affairs Fred Mitchell, who also serves as chairman of the Progressive Liberal Party (PLP), assured party supporters yesterday that there is nothing unusual about it and that the Americans “can’t talk” about scandals. The PLP chairman made the comments in