![\"Bahamian](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/11\/ftxcd-768x432.jpg\")
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The troubled and now-bankrupt crypto exchange FTX is the subject of \u201can active and ongoing investigation,\u201d Bahamian attorney general Ryan Pinder told the press on Sunday. Pinder also stressed that putting the blame on the Bahamas \u201cbecause FTX is headquartered here would be a gross oversimplification of reality.\u201d <\/strong><\/p>\n On Sunday, the attorney general of the Bahamas discussed<\/a> the collapse of FTX Digital Markets, and he insisted that Bahamian authorities are investigating FTX. Ryan Pinder started his speech by contending that \u201cthe Bahamas is a place of laws, the rule of law, and the exercise of due process characterizes the integrity of our jurisdiction.\u201d<\/p>\n The attorney general declared that the Bahamas Securities Commission (BSC) is the main Bahamian agency in charge of dealing with the FTX situation. Pinder explained that while FTX was located in the Bahamas, the government understands that the aftermath hurt people from all around the world.<\/p>\n He said the case was a \u201cvery large business failure as a result of questionable internal management practices and corporate governance.\u201d Interestingly, the Bahamas attorney general spoke about Coindesk\u2019s Nov. 2, 2022 article<\/a> that discusses Alameda Research\u2019s balance sheet. Pinder also talked about the crypto asset FTT<\/a> and how it was used as an exchange token.<\/p>\n After briefly mentioning the article during the speech, Pinder disclosed that Alameda Research<\/a> does not fall under the regulatory jurisdiction of the Bahamas. However, he further detailed that if it is found that Alameda did commit any improprieties in the Bahamas, then Alameda will be subject to the Bahamas\u2019 jurisdiction.<\/p>\n As far as FTX is concerned, Pinder disclosed that there\u2019s an active investigation taking place right now. The Bahamas attorney general said:<\/p>\n We are in the early stages of an active and ongoing investigation \u2014 it\u2019s a very complex investigation \u2014 BSC, the Financial Intelligence Unit, and the Police Financial Crimes Unit will continue to investigate the facts and circumstances surrounding FTX\u2019s bankruptcy crisis and possible violations of Bahamian law.<\/p>\n<\/blockquote>\n Pinder further added that as with any active inquiry, officials seek to share updates in a way that does not \u201ccompromise or constrain investigators.\u201d The attorney general remarked that it was \u201cextremely regrettable\u201d that the bankruptcy case<\/a> \u201cmisrepresented the timely action taken\u201d by Bahamian regulators.<\/p>\n Pinder believes the BSC acted with \u201cremarkable\u201d speed, and the Bahamian government is not too pleased about people blaming the island for FTX\u2019s mishap. \u201cAny attempt to blame the entire debacle on the Bahamas because FTX is headquartered here would be a gross oversimplification of reality,\u201d Pinder told the press in his prepared speech.<\/p>\n Meanwhile, the crypto influencer known as Bitboy has been trying to question<\/a> the former FTX CEO Sam Bankman-Fried<\/a> (SBF) at the former executive\u2019s condo in the Bahamas. As far as Alameda Research\u2019s top executive is concerned, Alameda CEO Caroline Ellison reportedly<\/a> left Hong Kong to flee to Dubai.<\/p>\n<\/p>\nBahamian Attorney General Says the \u2018Bahamas Will Emerge, Held in Even Higher Esteem\u2019<\/h2>\n
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