Bahamas Attorney General: FTX Remains The Subject Of “An Active Investigation”

Bahamian authorities are still investigating the collapsed cryptocurrency exchange FTX, according to Bahamas Attorney General Ryan Pinder, who complimented the Bahamas’ regulatory structure and the speed with which it responded to the situation.

Pinder delivered a 23-minute pre-recorded speech in which he summarized FTX’s demise and alluded to The government’s actions while also attempting to reassure investors and tourists that the country was a safe place to visit and do business.

The Office of the Prime Minister of The Bahamas‘ tweet on the speech was liked and shared by FTX founder Sam Bankman-Fried.

He delivered a national speech via Facebook Live on Sunday night, urging all international authorities to display at least the same kind of wisdom and moderation in their public opinion as we do so as not to jeopardize any of the existing procedures.

The Bahamas are the headquarters of FTX, one of the world’s major cryptocurrency exchanges. The company, which declared bankruptcy on November 11 due to a lack of money, is being investigated by both Bahamian and US authorities. The Royal Bahamas Police indicated in mid-November that government officials in the Bahamas were looking into whether any “criminal misconduct occurred.”

The attorney general stated it was extremely regretful that FTX’s new CEO, John Ray III, misrepresented the prompt action taken by the Securities Commission and made incorrect claims while also supporting the country’s authorities’ actions following the exchange’s demise.

Pinder stated that the country’s authorities are still investigating FTX and that “ill-informed speculation” isn’t helpful.

He went on to say that the Securities Commission responded with “remarkable” quickness. The day before the US bankruptcy case, Bahamas securities authorities terminated FTX Digital’s license and initiated involuntary liquidation procedures.

“Any attempt to lay the entirety of this debacle at the feet of the Bahamas because FTX is headquartered here would be a gross oversimplification of reality,” Pinder said.

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