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Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse – Bitcoin News

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Bahamian Government Officials Allegedly Asked Sbf To Mint Millions Of Dollars In New Tokens Amid The Ftx Collapse

On Monday, courtroom paperwork from legal professionals concerned with the FTX Buying and selling LTD Chapter 11 chapter case allege that the federal government of The Bahamas requested the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The legal professionals detailed that it was a “request for live, dynamic access that would be provided immediately to the government of the Bahamas and to Messrs.”

Government of Bahamas Accused of Getting Particular Therapy From Disgraced FTX Co-Founder Sam Bankman-Fried

Following Sam Bankman-Fried’s (SBF) arrest in The Bahamas, the U.S. Securities and Alternate Fee (SEC) charged SBF with fraud over the FTX collapse. Moreover, stories present that the Southern District of New York (SDNY) prosecutor’s workplace and SDNY lawyer Damian Williams have charged SBF with crimes as nicely.

“The Manhattan U.S. Attorney’s Office on Tuesday unsealed an eight-count indictment charging disgraced FTX founder Sam Bankman-Fried with a multi-year scheme to siphon money out of the now-collapsed crypto exchange,” courtroom reporter Rachel Scharf disclosed on Tuesday. Moreover, court documents from the FTX Chapter 11 chapter case point out that the joint provisional liquidators of FTX Digital Markets filed a motion to dismiss the Chapter 11 case of FTX Property Holdings LTD.

Attorneys have additionally accused the federal government of The Bahamas of asking SBF to mint new digital tokens price hundreds of thousands of U.S. {dollars}. The tokens had been allegedly given to Bahamian officers, FTX’s authorized crew stated. FTX’s new CEO John J. Ray III and his crew observed that new tokens had been being issued and suspected that SBF and FTX co-founder Gary Wang had been the executives who labored on orders stemming from Bahamian officers. The information follows the odd relationship FTX officers like trade boss Ryan Salame had with vertical farming corporations.

Ryan Salame and Bahamian prime minister (PM) Philip Davis visited Ohio to tour a enterprise referred to as 80 Acres Farms in Jan. 2022. Moreover, throughout his interview with Mario Nawfal’s Twitter Areas crew, FTX co-founder SBF admitted that withdrawals to Bahamian residents occurred earlier than FTX absolutely collapsed, and probably on two events. SBF additionally described giving Bahamian withdrawals the inexperienced mild in his two-part interview with Tiffany Fong (here and here). FTX’s American lawyer detailed this week that SBF negotiated with the Bahamian authorities and $100 million a day in withdrawals was allegedly permitted by SBF.

Discussing the minting of recent crypto tokens for the Bahamian authorities, the legal professionals declare SBF and Gary Wang labored with the officers very intently earlier than the chapter submitting on Nov. 11, 2022. “It is a request for live, dynamic access that would be provided immediately to the government of the Bahamas and to Messrs. Samuel Bankman-Fried and Gary Wang, who are located in the Bahamas and working closely with Bahamian officials,” the FTX legal professionals stated within the courtroom submitting.

After the allegations, the Securities Commission of The Bahamas issued a press release and wholeheartedly denied FTX CEO John Ray’s allegations revealed within the courtroom filings. The Bahamas regulator stated the accusations are meant “to create a false impression of communications between Mr. Bankman-Fried and the Commission.”

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What do you consider the claims in opposition to the Bahamian officers? Do you assume SBF gave Bahamian officers particular therapy? Tell us what you consider this topic within the feedback part under.


Jamie Redman

Jamie Redman is the News Lead at News and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for News concerning the disruptive protocols rising as we speak.

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