- The Bahamian prime minister has reportedly said the country could not have prevented the collapse of FTX.
- “[We] We have not identified any deficiencies in the regulatory framework that could have prevented this. ”
- FTX has sought bankruptcy protection in the US and filed last week after failing to secure relief from rivals.
The prime minister of the Bahamas, the country where FTX is headquartered, said the country could not have prevented the collapse of the cryptocurrency exchange.
“Based on our analysis and understanding of the FTX liquidity crisis to date, we have not identified deficiencies in the regulatory framework that could have prevented this,” Prime Minister Philip Davis said in a prepared remarks to parliament on Wednesday. ‘ said. reported by the Financial Times.
FTX, once the world’s third largest cryptocurrency exchange, Seeking bankruptcy protection in the United States After founder and now-former CEO Sam Bankman-Fried failed to secure a bailout last week, the company, once valued at $32 billion, has $8 billion shortfall.
Davis told the Bahamas Congress that the government’s investigation into FTX was of “national importance,” according to the FT’s report, and that the Bahamas are not unilaterally overseeing the company’s global operations.
Separately, the WSJ reported Wednesday that the Bahamian securities regulator Trying to control FTX bankruptcy proceedings Through its local subsidiary of the cryptocurrency exchange, FTX Digital Markets Ltd., it is disputing the company’s Chapter 11 filing in Delaware.