Bahamas

The Bahamas has taken a significant step forward in digital asset regulation with the passage of the Digital Assets and Registered Exchanges Act 2024. What Happened: This new legislation, announced by the Securities Commission of The Bahamas on July 30, 2024, represents a substantial evolution from...

Following the dramatic fall of cryptocurrency exchange FTX and its founder, Sam Bankman-Fried, the company is set to liquidate Bankman-Fried's extensive real estate holdings in the Bahamas, valued at a staggering $222 million. The move comes after Bankman-Fried was sentenced to 25 years...

FTX's (CRYPTO: FTT) debtors have reached a settlement with a Bahamian subsidiary, FTX Digital Markets Ltd. What Happened: The beleaguered crypto exchange is seeking to align bankruptcy proceedings in the U.S. and The Bahamas, ensuring a more streamlined and equitable process for creditors...

In a riveting courtroom session, FTX co-founder Sam Bankman-Fried testified on various aspects of his professional journey, revealing a more personal side. While discussing his wardrobe choices and long hair, he candidly admitted, "I found [shorts and T-shirts] comfortable," and...

In the sprawling world of cryptocurrency, few names have been as synonymous with success and downfall as Sam Bankman-Fried. The founder of FTX was once a beacon of innovation in the digital asset space. He now finds himself embroiled in a scandal that has sent shockwaves throughout the financial...

The U.S. Department of Justice (DOJ) is planning to proceed with the trial of Sam Bankman-Fried, the founder and former CEO of FTX (CRYPTO: FTT), on the charges brought against him in December 2022. The DOJ will focus on a subset of charges, including wire fraud, securities fraud, and money...

The legal proceedings against Sam Bankman-Fried, the founder of FTX (CRYPTO: FTT) crypto exchange, in the U.S. hit a roadblock as the Bahamas Supreme Court ruled in favor of allowing him to legally review the terms of his extradition from the Caribbean nation. This development came to light on...

The trial against Sam Bankman-Fried, the co-founder of FTX (CRYPTO: FTT), might face considerable delays if additional charges are brought against him, according to statements from his legal representatives. The additional charges could postpone the proceedings initially scheduled for October ...

The Securities Commission of the Bahamas announced plans to strengthen its cryptocurrency laws in response to the collapse of cryptocurrency exchange FTX (CRYPTO: FTT), which had its headquarters in the Caribbean nation. The new bill will introduce measures on stablecoins, proof-of-work mining...

Five months after the collapse of crypto exchange giant FTX drew the world's attention to the Bahamas, the island nation is proposing tougher regulations to govern digital asset firms.  The Securities Commission of the Bahamas, the country's financial regulator, opened a consultation...

Cryptocurrency exchange FTX is seeking to strip its Bahamas-based subsidiary, FTX Digital Markets (FTX DM), of any claim over the company's assets. In a legal filing made on March 19, FTX accused the Bahamas authorities of aiding founder Sam Bankman-Fried in his attempts to evade justice. The...

Crypto exchange FTX (CRYPTO: FTT) announced it recovered a substantial amount of assets, including cash, liquid cryptocurrency and liquid investment securities, totaling more than $5 billion, Coindesk reported. Notably, this does not include another $425 million in crypto...

The Securities Commission of the Bahamas is holding FTX assets worth $3.5 billion, the regulator reportedly said on Thursday. What Happened: The valuation of the assets is based on the pricing at the time of the transfer on a temporary basis in order to deliver them to customers and creditors,...

Sam Bankman-Fried is returning to the U.S. to face criminal charges related to the failure of the FTX (CRYPTO: FTT)  after a judge authorized his extradition from the Bahamas. Bankman-Fried, who has been imprisoned since his arrest last week, has decided not to fight extradition, The Wall...

Sam Bankman-Fried, the former CEO of FTX, will reportedly be flown to the United States on Wednesday. The paperwork for the extradition of the disgraced cryptocurrency entrepreneur has been filed with the court, and he will be flown to the U.S. on Wednesday, said Doan Cleare, acting...