Tuesday, March 28, 2023
HomeStocksAttorney general of Bahamas deflects blame for FTX's collapse

Attorney general of Bahamas deflects blame for FTX’s collapse

The Bahamian attorney general defended the island nation’s actions during the collapse of FTX Digital Markets Ltd. and urged patience while authorities investigate the embattled cryptocurrency exchange.

In a national address late Sunday, Ryan Pinder disputed recent statements made by FTX’s new chief executive and lawyers in U.S. Bankruptcy Court questioning whether Bahamian regulators had the authority to take control of the local FTX subsidiary’s assets around the time of its bankruptcy earlier this month. He said they did have the right to do so under local laws and did so to protect customers and creditors.

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