[133], In December, it emerged that FTX had secretly invested in The Block, a cryptocurrency news firm, and to fund an LLC its CEO Michael McCaffrey used to buy an apartment. And not long after, Bankman-Fried set up a new FTX headquarters on yes Bay Street. Now, Bahamas regulators are trying to claw back the property from FTX's U.S. bankruptcy protection proceedings, telling a Delaware federal judge that allowing the properties to be administered in U.S. courts would be both administratively ineffective and illegal under Bahamas law. As jurisdictions, like the Bahamas, roll out comprehensive crypto regulatory regimes, we are excited to take part by establishing a local presence., On Sept. 24, FTX CEO Sam Bankman-Fried elaborated on the decision in an, Bankman-Fried also said that it was also really important for us to be in a place where we could go on business trips, where there isnt quarantine, and that the move had been in the works for some time and was not particularly in response to any very recent news., Volatile Price Moves on Monday Contrast to Recent Calm Waters, First Mover Asia: Bitcoin Market Cap Is Surging, but a Retreat From $30K Continues, First Republic Bank Seized and Sold to JPMorgan Chase; Tron's Justin Sun Apologizes After Binance CEO Fires Warning, Bitcoin Drops Below $28K; JPMorgan Takes Over Embattled First Republic Bank. Bloomberg noted that Alameda had functioned as a market maker for FTX early in the exchange's history, and that the trading firm remained, in June and July 2022, the biggest known depositor of stable coins on FTX. The change of headquarters location follows an announcement on Monday of the companys Bahamian subsidiary. [147], The United States House Committee on Financial Services announced it plans to conduct hearings in December on the collapse of FTX, and committee leaders said they would seek testimony from Bankman-Fried. [61][62] The deal did not include the sale of FTX.US. [162][163][164] FTX held talks with American singer-songwriter Taylor Swift starting in the fall of 2021 regarding a $100 million sponsorship deal but negotiations were broken off the following spring without a deal being reached.[165][166]. [43], In September 2022, Bloomberg reported on the close relationship between Alameda Research and FTX. [12], On November 11, FTX, FTX.US, Alameda Research, and more than 100 affiliates filed for bankruptcy in Delaware. The picturesque island nation has gained additional popularity lately, but this time not for its turquoise waters and sandy beaches.

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