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FTX chose to file for bankruptcy in America. There is a jurisdictional dispute between the US and the Bahamian court over where the bankruptcy proceedings shoul
by initplus 4y ago
FTX chose to file for bankruptcy in America. There is a jurisdictional dispute between the US and the Bahamian court over where the bankruptcy proceedings should take place.
In my view FTX chose to incorporate in the Bahama's for a reason, and that reason wasn't the transparency and integrity of the Bahamian legal system.
- bmitc 4y agoWhat does that have to do with the announcement of the unauthorized access?
- phire 4y agoThey didn't incorporate in the Bahamas. They incorporated in "Antigua and Barbuda", which is a very seperate country. The only relationship FTX has with Bahamas, is the location of their headcounters, and a single wholly-owned subsidiary that probably didn't hold much in the way of funds.
- nullc 4y ago> The only relationship FTX has with Bahamas, The Bahamas has the only relationship that actually mattered: apparently SBF was physically in their custody.
- initplus 4y agoI believe the Bahaman incorporated entity is "FTX Digital Markets Ltd" https://bfsb-bahamas.com/providers/name/ftx-digital-markets-ltd/ https://bfsb-bahamas.com/providers/name/ftx-digital-markets-... This is the entity (alongside the physical presence of SBF) by which the Bahamas are arguing they have jurisdiction over the FTX bankruptcy proceedings.
- kaashif 4y ago> They incorporated in "Antigua and Barbuda" Why is Antigua and Barbuda in quotes here?