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What of the rumour that Bahamians are allowed to access their funds for legal reasons while everyone else can not? Most of the FTX employees including SBF are

What of the rumour that Bahamians are allowed to access their funds for legal reasons while everyone else can not? Most of the FTX employees including SBF are based in Bahama? Isn't this just insiders cashing out before creditors/users? https://twitter.com/JasonYanowitz/status/1590800210200256513 https://twitter.com/JasonYanowitz/status/1590800210200256513 https://twitter.com/StackerSatoshi/status/1590972237976567808 https://twitter.com/StackerSatoshi/status/159097223797656780... https://twitter.com/statelayer/status/1590939767205920769 https://twitter.com/statelayer/status/1590939767205920769 And then there are these NFT shenanigans: https://twitter.com/cobie/status/1590974648552148992 https://twitter.com/cobie/status/1590974648552148992

rippercushions 4y ago
There are 130 (!) companies in the FTX group, across a whole slew of jurisdictions: https://i.redd.it/078p4g7m6cz91.jpg https://i.redd.it/078p4g7m6cz91.jpg The Chapter 11 filing is for the ones in the US, working out what this means for the rest is going to keep a whole lot of lawyers very busy for years.
- khuey 4y ago
  The Chapter 11 filing is for pretty much the entire group including ex-US companies.
  - adam_arthur 4y ago
    FTX US is also part of the filing, per SBF's tweet 1) Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US. https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&t=KFeDCiMo96CL4yAMneY2Yw https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&...
- koolba 4y ago
  The sheer number of affiliated companies is not unusual in regulated industries as each tends to be a special purpose vehicle to segregate the associated assets and liabilities.
  - michaelcampbell 4y ago
    If I remember Boyle's video correctly, Goldman Sachs' equivalent structure was about 30 entities. This doesn't feel normal in any sense.
Kukumber 4y ago
FTX is registered in the Bahamas, but the employees are not Bahamians, they are all from the US with a VISA for residence
- HDThoreaun 4y ago
  FTX has plenty of non-american employees. I know a decent number of their developers are south american.
deleted 4y ago
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rippercushions 4y ago

There are 130 (!) companies in the FTX group, across a whole slew of jurisdictions: https://i.redd.it/078p4g7m6cz91.jpg https://i.redd.it/078p4g7m6cz91.jpg The Chapter 11 filing is for the ones in the US, working out what this means for the rest is going to keep a whole lot of lawyers very busy for years.

khuey 4y ago
The Chapter 11 filing is for pretty much the entire group including ex-US companies.
- adam_arthur 4y ago
  FTX US is also part of the filing, per SBF's tweet 1) Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US. https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&t=KFeDCiMo96CL4yAMneY2Yw https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&...
koolba 4y ago
The sheer number of affiliated companies is not unusual in regulated industries as each tends to be a special purpose vehicle to segregate the associated assets and liabilities.
- michaelcampbell 4y ago
  If I remember Boyle's video correctly, Goldman Sachs' equivalent structure was about 30 entities. This doesn't feel normal in any sense.

Kukumber 4y ago

FTX is registered in the Bahamas, but the employees are not Bahamians, they are all from the US with a VISA for residence

HDThoreaun 4y ago
FTX has plenty of non-american employees. I know a decent number of their developers are south american.

deleted 4y ago

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