Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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No, FTX was not required to release Bahamian funds first.
On Friday, the bankrupt FTX said it started facilitating withdrawals for its clients in the Bahamas (where the company’s based) at the request of “Bahamian HQ’s regulation and regulators.”
But the Securities Commission of The Bahamas says that’s not the case, stating it never “directed, authorized or suggested... the prioritization of withdrawals for Bahamian clients.” Meanwhile, hundreds of millions of dollars are still missing from the exchange.
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