Bahamas public announcement regarding FTX from Bahamas General Attorney turns into a circle jerk
I don't really know what to say after watching the Bahamas National Adrees made with respect to the FTX situation. It was a lot to take in. But I will do my best to confer what was said to you, my readers.
The bullet points
First of all, it starts in a similar way to how China's press releases read regarding covid. The Bahamas Attorney General Sen. The Hon. Ryan Pinder KC, yes it is a mouth full. He starts off by basically giving everyone involved in the running of things in the Bahamas one of the biggest pats on the backs. Saying that no one else would have been able to act as fast as they did. And no one else have the best regulations like they do. So fast and so good. Everyone basically should be in awe of how fast and well the Bahamas were able to react.
Then he goes on to state that this whole thing started with the leaked financial report from Alameda Research, which it did. But that has absolutely nothing to do with the Bahamas. This is because only one of the FTX companies is in the Bahamas. If only the rest of the world have as good laws as the Bahamas.
He also goes on to throw some shade back at the chapter 11 bankruptcy filing. Apparently, in it, there was some shade thrown at the Bahamas via the FTX company. But that was apparently one of the non-Bahamas FTX companies. He goes on to imply that throwing shade on Bahamas might be part of the million-dollar law defense made by the lawyers. But again they should get their own stuff in order.
The rest is basically the Bahamas is the best, they have the best laws, the faster and best people. And in no way shape or form could they have known about FTX. But they are still better than any other place. And he ends on a very sober note "it is better in the Bahamas".
I guess now you know. If you want the best of the best go-to Bahamas, it does not get any better than what is there. And all other places should basically copy them.
In case you want to give the whole glorious thing a watch yourself. There it is. And remember "it is better in the Bahamas". Oh, I almost forgot, it has also been revealed that the Attorney General previously was the Cheif Legal Officer and Head of Wealth Management for over a year at Deltec. And if you think that name rings familiar, it should. It is the name of the Bahamas bank Tether uses.
What is your thought on this? Is the Bahamas simply better? Or is there just something in the water there making people think things? Please share your thoughts on the public service announcement from the Bahamas in the comment section. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
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