While company executives set up residences in the glitzy Albany gated community and opened offices in a nearby office park, they also planned for a more permanent location as the FTX empire expanded. Cryptocurrency exchange FTX has cemented its relationship with the Bahamas, having broken ground Monday on its new headquarters in the country's capital. The Mosco employee said that they had not been to the site for a month, but said that Mosco had been in touch with FTX as recently as last week. He explained during his address that it is his hope that the domiciling of an FTX office in The Bahamas will be a catalyst for more fintech firms to open offices. Company Description . Your weekly wrap of Web3 news and trends. Bron declined to comment. The deal included a $400 million credit facility for BlockFi. The Bahamas has more than 700 islands and cays; remote workers and students can live on 16 of them, including Eleuthera (shown here). Bloomberg Markets: China Open is the definitive guide to the markets in Hong Kong and on the mainland. A security guard who works for the office park said that the full crew stopped coming about two months ago, and that he hadnt seen anyone at the facility for at least a month. The owner of a neighboring construction company confirmed that the HQ project never started, saying, We were waiting for the phone call to start sending trucks down with concrete.. [49] Alameda CEO Caroline Ellison disclosed to other Alameda employees that she, Sam Bankman-Fried, Gary Wang, and Nishad Singh knew about that decision. Fortune visited the planned site of the headquarters on Tuesday, which is currently gated off with no sign of FTXs presence. BlockFi filed for bankruptcy in November. Davis touted the event as a sign that the Bahamas would become a hub for international companies, and that FTX setting up shop would help create some 400 domestic jobs. PRIME Minister Philip "Brave" Davis joining representatives of FTX Digital Markets at the groundbreaking ceremony for its headquarters in The Bahamas. + How many employees are working in FTX? [105], BlockFi, a cryptocurrency lender, was reportedly taking steps to file for bankruptcy as of November 15. Bahamas-based crypto exchange FTX is moving its U.S. headquarters to Miami, only four short months after cutting the ribbon on its headquarters in Chicago. Crypto Firm FTX Landed in the Bahamas With a Bang, and Now the Bahamas [18] FTX was unable to meet the demand for customer withdrawals. Get this delivered to your inbox, and more info about our products and services. "[143] Risk management firm Titan Grey published a primer on the commencement and early motions practice of the FTX chapter 11 case, analyzing issues such as creditor privacy, relief from the automatic stay, proposed differential treatment of customers from other creditors, and others.
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