Bahamas Financial News

Pamela Draper, president and CEO of crypto platform Bitvo, has weighed in on firms escaping the Canadian market amid the regulatory environment.

Former FTX executives allegedly splurged millions on funding niche projects completely unrelated to crypto or Web3, including a uniquely named $1.8 million “Pineapple house.”

The International Monetary Fund (IMF) has reiterated its calls for crypto regulation across certain countries but said an outright ban may not be the best approach.

EDX Markets, a new crypto exchange backed by a consortium of traditional Wall Street firms including Charles Schwab and Citadel Securities, said on 21 June it had begun processing trades.

Criminal charges against FTX co-founder Sam Bankman-Fried have been split, with the former CEO now facing two separate trials for his alleged mismanagement of the crypto exchange.

The criminal trial of FTX co-founder Sam Bankman-Fried will be going ahead with the eight charges he was initially pinned for by United States prosecutors — at least for now.

Federal prosecutors asked a judge on Thursday to remove five charges against alleged crypto fraudster Sam Bankman-Fried, including bribery of a foreign government official, after a Bahamas court ruling cast doubt on whether the U.S. government had followed the correct procedure for bringing the charges against the former billionaire.

The nonprofit Human Rights Foundation (HRF) has launched a central bank digital currency (CBDC) tracker, the organization announced at the same Oslo Freedom House event it hosts. The online tracker has published educational materials and a tip line. It is expected to become fully functional by year-end.

Attorneys for former FTX CEO Sam Bankman-Fried (also known as “SBF”) are seeking to sever or dismiss six charges from his upcoming trial, claiming that it may take years for courts in The Bahamas to rule on whether they will allow him to be tried for these offenses, according to a June 12 document filed in a New York federal court.

The Supreme Court of the Bahamas has granted FTX founder Sam Bankman-Fried the ability to challenge new charges levied against him by US prosecutors. 

A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors. 

FTX received court permission on Friday to remove customer names from all filings in its bankruptcy case, persuading a US judge that publishing the names would put people at risk of scams and identity theft. US Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled that FTX can permanently redact the names of individual customers from its bankruptcy filings, after hearing testimony that publishing customers' names would place them at risk even if other identifying information like their email address was kept secret. «It is the customers who are the most important issue in this case,» Dorsey said. «We want to make sure that they are protected and they don't fall victim to any types of scams.» In January, Dorsey had allowed FTX to keep secret the names of 9 million of its individual customers for three months.

Bankrupt cryptocurrency exchange FTX has secured court permission to remove the names of its customers from all filings in its bankruptcy case. 

Bankers of now-defunct cryptocurrency exchange FTX are looking to offload their stake in AI startup Anthropic. 

The US Justice Department (DOJ) may drop some of the charges against the disgraced former FTX CEO Sam Bankman-Fried if authorities in the Bahamas objects to them.

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency and warned that innovation is moving offshore.

United States prosecutors will drop some of the charges against former FTX CEO Sam Bankman-Fried if the Bahamas government objects to them, according to a document filed on May 29 in the U.S. District Court for the Southern District of New York.

The Bank of Japan released the results and findings of a report on central bank digital currencies 

FTX founder Sam Bankman-Fried has been charged with directing $40 million (€36.86 million) in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business.

Nigeria’s eNaira central bank digital currency (CBDC) is over a year old, and the International Monetary Fund (IMF) has a late birthday present for it, in the form of a working paper assessing its first year of performance. “Laudable,” said IMF researchers, but there were a few suggestions too.

FTX chief Sam Bankman-Fried asked a US federal court Monday to toss out most of the charges he faces over the collapse of his crypto exchange last year. In a pre-trial motion, lawyers for Bankman-Fried asked the US District Court for the Southern District of New York to dismiss 10 of the 13 charges against him, arguing that in some of the charges prosecutors failed to «state an offense» or to «allege a valid property right.» The disgraced crypto currency highflyer has pleaded not guilty to fraud, conspiracy and money laundering charges. Extradited to the United States in December from the Bahamas and put under house arrest, Bankman-Fried faces potentially dozens of years in prison. His trial is scheduled to begin in October in New York.