Bahamas on Brink of International Monetary Crisis After Crypto Exchange FTX Files for Bankruptcy

The Bahamian authorities has issued a declaration that it's miles aware about the submitting for financial ruin through FTX Exchange and that it's going to preserve to screen tendencies. The change is in search of safety from creditors, in keeping with its website, to be able to settle creditor claims associated with unpaid debt.

The declaration stated: The Government of The Bahamas is conscious of new media reviews concerning FTX Exchange Limited (FTX), which operates an internet-primarily based totally change platform for buying and selling cryptocurrency securities.

It continued: The Government of The Bahamas is aware about the results this can have for FTX customers, buyers and depositors.

Bahamas Prime Minister Hubert Minnis stated he changed into briefed on the problem on Tuesday night time and that he's going to preserve to screen tendencies as they unfold. We are persevering with to screen tendencies in this matter, he stated in a declaration published on-line on Wednesday afternoon.