Bahamas Minister denies fake rumors surrounding FTX investigations
Ryan Pinder,
Bahamas’ attorney general, senator, and minister for legal affairs recently shared a pre-recorded speech to clarify fake rumors surrounding the investigations on FTX collapse.
Pinder claimed that the country is safe for tourists and business operations as usual and that the FTX collapse had no massive economic effect even if it was headquartered in the Bahamas.
The senator also denied the rumors about government involvement with FTX’s funds. He said the Securities Commission of The Bahamas was quick enough to probe the centralized exchange.
The authorities canceled FTX Digital Markets' license and appointed provisional liquidators.
“We understand the enormous interest in this story but as a government, we decided right away… not to engage with speculation or gossip, but instead to proceed methodically and deliberately,” he said.
Pinder also refused to share any details about the investigations but claimed that the regulators were actively looking into the case.
The minister also clarified that the claims made by new FTX CEO John Ray III about the Bahamas government’s order for “unauthorized” transactions were in fact done to defend FTX funds.
“We urge all authorities here and abroad at a minimum to exercise at least the same amount of prudence and restraint in their public commentary,” he said.
Following the clarifications, Pinder also complimented Bahamas authorities who moved swiftly to prevent further loss, and also shared the island’s laws for cryptocurrency regulations.
Pinder also warned the general international public to stop making false accusations against the Bahamas government over FTX’s collapse.
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