Tether (USDT) , the widely-used stablecoin, has recently taken strategic steps to enhance its operational landscape. Reports indicate that Tether has entered into a collaboration with Britannia Bank & Trust, a private bank situated in the Bahamas. This venture aims to streamline dollar transfers within Tether. Moreover, sources familiar with
Ryan Salame, the ex-CEO of FTX’s Bahamian subsidiary, allegedly had his house inspected by the FBI. The massive downfall of the once-prominent crypto behemoth has been followed by many months before the raid. Authorities, prosecutors, and disgruntled investors all say the exchange cheated its clients out of money, and they
The Securities Commission of the Bahamas (SCB) has instituted stringent new regulations for Virtual Assets Service Providers (VASPs) seeking to operate within its jurisdiction as a means of demonstrating that it has learned from the demise of the FTX Derivatives Exchange. The SCB claims it has raised financial and reporting
NASSAU, The Bahamas–(BUSINESS WIRE)–The Securities Commission of The Bahamas (the Commission) today published the Digital Assets and Registered Exchanges (DARE) Bill, 2023 for consultation. The DARE Bill 2023 expands the definition and list of digital asset business activities and includes robust consumer and investor protection, risk management, and market innovation
Sam Bankman-Fried, the founder of the bankrupt crypto exchange, FTX, has been denied bail by a judge in the Bahamas. According to the latest reports, the Bahamian authorities will continue to detain Bankman-Fried, following his arrest held on December 12. Joyann Ferguson-Pratt, the judge presiding over the case, has ordered
Sam Bankman Fried, the CEO of the shuttered crypto exchange FTX, was arrested in the Bahamas on December 12 after US prosecutors filed criminal charges. According to an announcement from the Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, SBF was arrested by the Royal Bahamas police
The Bahamian government has criticized new FTX CEO John J. Ray III for his role in imposing restrictions on the corporation. The battle to decide what to do with FTX’s broken enterprise has recently intensified. The Attorney General of the Bahamas, Ryan Pinder, said on November 27 that FTX CEO
New problems have arisen in the Bahamas, the former home of the collapsed crypto exchange FTX. After the ailing cryptocurrency exchange filed for bankruptcy on November 11. The Supreme Court of Bahamas issued an order in favor of the Securities Commission on November 21. The ruling required the exchange to
Top officials at the defunct exchange FTX run by Sam Bankman-Fried (SBF), as well as his parents, spent $121 million in Bahamas investment. 19 residences in total were bought over two years, according to the investigation. High-end beachfront properties made up the majority of FTX’s acquisitions. Seven condominiums in Albany’s
The bankruptcy hearings for FTX have the potential to turn complex, so regulators in the Bahamas want to take over. In New York bankruptcy court on Tuesday, the exchange’s Bahamian subsidiary FTX Digital Markets Ltd. filed for chapter 15. Legal counsel for the insolvency, Bahamas-based Brian Simms, said in the
