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The Bahamas attorney-general on Sunday hit out at FTX chief government John Ray III, accusing him of misrepresenting the actions of the islands’ regulators within the case of Sam Bankman-Fried’s collapsed $32bn crypto change
Throughout a nationwide deal with, Ryan Pinder mentioned it was “extraordinarily regrettable” that the brand new chief government of FTX Buying and selling “misrepresented” motion taken by Bahamian regulators within the wake of FTX’s chapter submitting in New York earlier this month.
“It’s doable that the prospect of multi-million greenback authorized and advisor charges is driving each their authorized technique and the intemperate statements,” Pinder mentioned.
Ray, an insolvency skilled who oversaw the liquidation of Enron, lately mentioned FTX’s collapse represented the worst case of company failure he has seen in over 4 a long time.
He mentioned he had discovered at FTX worldwide, FTX US and Bankman-Fried’s Alameda Analysis buying and selling firm “compromised techniques integrity”, “defective regulatory oversight overseas” and a “focus of management within the fingers of a really small group of inexperienced, unsophisticated and probably compromised people”.
Pinder additionally defended The Bahamas as a jurisdiction for digital belongings.“I’m totally assured that, as issues progress, and the actions of the FTX group are both restructured or wound down, The Bahamas will emerge, held in even increased esteem”, he mentioned.
Elsewhere on the islands, the evaluation has been much less optimistic. Stefen Deleveaux of the Caribbean Blockchain Alliance advised the Monetary Occasions an enormous a part of his work has been destroyed “due to Sam Bankman-Fried”.
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