The Ministers of National Security and Tourism, Investments and Aviation commented on the collapse of FTX Digital Markets while speaking to reporters outside of cabinet.
Deputy Prime Minister, the Hon. Chester Cooper, who has carriage of Tourism, Investments and Aviation said, “let me say that the Prime Minister will be speaking to the FTX matter. It’s in his remit as minister of finance. Its a matter for the regulators. I can tell you though that I am confident about the regulators. I am confident about the laws governing financial services in The Bahamas. We’ve had curveball thrown at us before in financial services and we persevered. We’ve pivoted in financial services many times and I expect we’re going to do likewise in the digital assets business.”
For his part, Minister of National Security, the Hon. Wayne Munroe told reporters, “I can say from my information no one has been detained by the police. I wouldn’t like to disclose anything beyond that.”
FTX Digital Markets [FDM] assets were frozen by the Securities Commission of The Bahamas and liquidators appointed by the Supreme Court after then CEO, Sam Bankman-Fried, announced that FDM’s parent company had filed for Chapter 11 bankruptcy in the United States.