Crypto News

Crypto firm FTX landed in the Bahamas with a bang, and now the Bahamas are picking up the pieces

NASSAU, Bahamas – Last year, an FTX executive walked into a bank branch here and poured $4.5 million of the company’s money into an ambitious plan to buy an oceanfront property and convert it into the crypto giant’s new headquarters.
CEO, Ryan Salame, closed the deal in a short amount of time, people familiar with the matter said, just part of the company’s whirlwind property-buying spree in and around Nassau. In April, the Prime Minister of the Bahamas appeared with FTX executives at a groundbreaking ceremony on the new land. But construction never really got off the ground. FTX collapsed this month, its real estate holdings now in bankruptcy.

Source: Wall Street Journal

Source: Crypto News Deutsch

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