Prime Minister, the Hon. Philip Davis answered questions from members of the media on the government’s involvement with FTX. The Bahamas based company filed for Chapter 11 bankruptcy in the United States earlier this month. The assets of FTX Digital Markets were subsequently frozen by the Securities Commission of The Bahamas and liquidators appointed by the Supreme Court. Bahamian liquidators have also filed Chapter 15 in the United States court proceedings.

On the question of a planned FTX boutique hotel the Prime Minister said, “I’m not aware of them making any promises about any boutique hotel. The only indication of anything near to that was they were gonna build a campus for teaching and like a technical school to house their workers out on West Bay Street. I know they purchased the land, the land was cleared, now where that is now I don’t know.”

The Prime Minister also addressed the negative international attention the country has received since the collapse of FTX. “I’m now concerned about our reputation in that regard because most of what is being said is the posturing of persons who would wish to have the liquidation under their control.”