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Life at the FTX Bahamas Compound | Bloomberg Crypto
Posted
December 21, 2022
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December 21, 2022
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20:02Now PlayingSam Bankman-Fried might not have expected that his time in the Bahamas would include the inside of a jail cell. Bankman-Fried and his inner circle at FTX and Alameda Research relocated operations to the Bahamas from Hong Kong in late 2021.
The Nassau-based employees and executives seemed to enjoy a lavish island lifestyle - think yachts and penthouses with ocean views. How much of that lifestyle was funded, ah, improperly is at the center of allegations and charges filed by everyone from the US Department of Justice to the Securities and Exchange Commission to the CFTC.
The Department of Justice alleges that, among other things, SBF misappropriated customer deposits. And there’s a brewing fight between officials in the US and local regulators in the Bahamas just who is in charge of what.
Bloomberg reporters Zeke Faux and Carly Wanna join this episode.
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Crypto is the world's hottest financial trend. Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. No newsroom on the planet is better equipped than Bloomberg to cut through all the noise and provide clarity, context and authority.
In this new daily podcast, Bloomberg’s reporting team will tease out what’s actually important in the crypto conversation. Led by crypto expert Stacy-Marie Ishmael, the podcast will draw on reporters in every region and credible voices in the industry to cover everything from regulation to alt coins to DeFi, and even the environmental impact of the currency that promises to change the finance landscape indefinitely.
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