Why FTX Chose the Bahamas for Its Headquarters | WSJ

More than a year before its collapse, FTX moved its headquarters to the Bahamas-a country that worked to lure crypto companies to its shores. So what makes the nation attractive to crypto? And how could FTX’s demise change that?
Illustration: Adele Morgan
#FTX #Crypto #WSJ

[@erichkraetz2622]

I wonder what the best opportunities to invest now are, there are opinions but a little later I find out these opinions don't matter as a totally different turn of events play out with the stocks they discussed therein.

[@alexyoung3126]

stocks are overrated now. buy gold, 5% in crypto. rest in cash. and wait for the stock/ property/land price to crash. but them after it stops dropping for 7 - 12 months at the bottom.

[@joesphcu8975]

As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. It's unnerving to see your portfolio go from green to red but as mentioned if you have invested in quality names just have to keep adding to them and stay the course.

[@lawerencemiller9720]

@@joesphcu8975 I see any market condition as an opportunity. So far I've made north of $260k in raw profits from just Q3 of 2022 under the guidance of my Financial-Advisor "Eileen Ruth Sparks ". Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out.

[@stephaniestella213]

@@lawerencemiller9720 Please can you leave the info of your investment analyst here? I overheard someone talking about how a couple made $200k during this red season. I need such luck lol

[@lawerencemiller9720]

@@stephaniestella213 just look her up online to get in touch with her, her details are provided online.

[@SpaceGringos3D]

Well this aged well.

[@graceocean8323]

Thanks WSJ. I got ETFs in apple/tesla/fedex. I can only expect more slump because of the inflation, recession and stock market crash affecting everything, not just FTX and 401Ks. My stock equities portfolio, at $750K, is in the red. I'm constantly losing due to inflation. This world will crumble under its dictatorial rulers, just as Rome did. If you are thinking about retiring but are worried that your pension won't cover the rising cost of living, I apologize. Around the world, there are poor regulatory, economic, and energy policies as well as terrible foreign policies.

[@trazzpalmer3199]

That mustn't be the case. A lot of folks are making huge 6figure killings in this downtrend, only just that such techniques are mostly successfully executed by folks with in-depth market knowledge. Although, it is advisable to carry out these transactions with the guidance of a financial advisor. my opinion

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[@skepticRN]

FTX wanted regulation because their lobby would write the regulations. Their lawyers and insurers would sit on the board of the regulatory bodies and their employees would have a revolving door between jobs in the industry and enforcement jobs with the government. Big business loves regulation.

[@Matt-cr4vv]

They wanted to appear to favor regulation while likely undercutting it in the US. The bulk of the assets and business was run from their Bahamas arm which was regulated there. Based on everything I’ve seen any form of regulation of the Bahamas was at best a paper Tiger. Companies don’t willingly locate to areas where they’ll face harsh regulation. Pushing for US regulation that they could live with, while doing the bulk of their business where the regulations wouldn’t touch them, was pretty forward thinking on their part. You get the positive PR and reputation from embracing regulation, get a hand in shaping it to serve your best interests and then can operate predominately outside of its grasp. SBF likely accepted the inevitable that eventuallt the US will regulate crypto so it’s best to get ahead of the curve on what is likely to happen anyways. It’s easy to see why they chose the Bahamas. Basically nothing to speak of for corporate and personal taxes. And while they had a regulatory framework set up it obviously had no teeth. And even if there is a framework it is much easier to obtain corrupt influence in a country like that than it is in the US. Sure corruption exists in the US but they have to be careful about not being transparent with it here. In the Bahamas it would be much easier to bribe your way past whatever regulation actually exists. It’s one of the things that drives me nuts about all these media entities saying that they were in fact regulated. As someone who has spent years working in regulatory oversight of financial services there is such an immense difference in regulators. Some overseas regulators do have some teeth in oversight but are generally much friendlier to business than US regulation is.

[@skepticRN]

@@Matt-cr4vv I get it Matt. I was an assistant attorney general. It is well meaning dupes like you and the younger version of me that keep the system alive. You go after a few minor bad actors from time to time and make an example of them. But you don’t write the laws. You don’t decide where the money that is earmarked for enforcement is spent. You know your colleagues will mostly switch sides sooner or later. I get it. You try. I feel for you. But you are lying to yourself, not to me.

[@emircanshorts]

ON26AM, you've done an amazing job. How are you going to make all of these films and write all of the text in such a short amoun

[@DarkThirtyZero]

Lot of on26am bots in here already huh

[@tomjason2495]

I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory

[@sheliaswelttk2535]

I'll suggest you find a mentor or someone with experience guide you especially in this recession.

[@williamskohler8337]

@@sheliaswelttk2535 I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million

[@gabriellewilson5625]

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[@williamskohler8337]

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[@web2yt488]

WSJ received SBF donations. Hence why they refuse to call out FTX and their fraud

[@reighmund284]

Anyone remember the Frye festival in the Bahamas. It was held there for a reason and those who bought in got burned. Fast forward and FTX pulled the exact same stunt on a massive level. Should have just given that Nigerian prince your account number. He sounded just as legit.

[@hunternotbiden]

So true. The Bahamas just attracts these frauds.

[@burrows4726]

Anyone remember Bernie Madoff? Anyone remember Don the Con Trump?

[@ohthere6487]

If only FTX didn't touch their customers money and just simply focused on spread and commission charges just like any normal broker...

[@fleadoggreen9062]

They s thought they would smart their way out !! Never happened Like chasing ur losses at the craps table

[@blipblop92]

FTX was originally created with ill intent, it wasn't going to be "just another exchange"

[@fleadoggreen9062]

@@blipblop92 I find this very interesting I’m not big into finance but they are very smart how did they think they were gonna get away with this, I like how it’s unfolding day by day. Still don’t know who lost money? That’s the sad part

[@ishizukahikaru643]

It was also used for money laundering to Ukraine for dems to pocket yr taxes into their pockets.

[@tomdavis1694]

@@fleadoggreen9062 you are correct. You are not big on financial matters. Use of client funds is nothing but a scam and sure-fire way to lose everything. It has been played out numerous times in history; it is not smart.

[@mellisabakker8524]

With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. Look at what FTX did, My portfolio suffered a big hit cause of that, holding it further won’t be any good. I've heard of people netting $100k or more this red season. How can I ensure this?

[@henrysimon7213]

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[@henrysimon7213]

[@henrysimon7213]

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[@saniadam740]

With markets tumbling, inflation soaring,the Fed imposing large interest-rate hike, while treasure yield are rising rapidly which means more red ink for portfolio's this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio

[@howardgriff4856]

appreciate your honest reporting. I admire you alot for educating everyone. It all depends on the information and method applied. I've seen people people earn significant 7-figure profits in sinking markets and pull it off just as easily In bull markets. There is no doubt that the crash/recession is making someone wealthy

[@fedexpress7970]

The uncertainties accompanying this present market is more reason I have my daily investment decision guided by an investment adviser seeing their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Nettled over $650k return on investment since using an advisor for 2years

[@lealyaquelin5420]

I invest for the long haul. I personally think investing in ETFs is a great idea (ETFs are basically stocks that have a bunch of other stocks combined into them) This is my opinion on investing

[@evelinaausrine2300]

I'm trying to pay off debt while trying to do both cash flow and growth and how are you able to achieve all that given that the market has being a mess most of the year?

[@mariasanchez7400]

Even the best investors lose money when the market is down or when they make a decision that doesn’t turn out as hoped. But, overall investing should increase your net worth considerably, mine was not doing that I had to hire Carol Ann Mcelroy who helped me understand what I was doing wrong and evident positive changes took place.

[@letmomcook]

As a Bahamian I am deeply disturbed by this but definitely not surprised at all. Stuff like this was happening for so long in the Bahamas.

[@kenlewis6198]

Look at the History of the Fried family in the Bahama's alone. Expecting not hoping for legal safety/ tax havens concerns. Then add the Democrat voting history and support. No surprises when these simple parts are looked at.

[@alexsmith1207]

Bahamas would be worst , if it's economy was based on tourism alone. Of course, it's not right but Bahamas need to rethink their strategy and put some kind of regulations to safeguard it's people and reputation

[@newmovies1695]

Thank you for your research. I find your videos are well done. Will ON26AM hit 1000? Not sure but I hope so.

[@dryas7580]

The inflation is real We are far very from the bottom, But we also need to talk about Amazons ON26AM as a gamechanger where we can avoid most of the losses. This is not a joke guys, this is the only chance this year gives!

[@TRoss4566]

Not having "direct" taxes is a matter of sovereign right, not something to be dictated by global task forces. If the Bahamas economy is sustainable with an "indirect" tax system of sales taxes, tourism taxes and fee-for-service, that is their choice.

[@apga1998]

thank you, Furrante, for making this important point.

[@ntrabulsyjr]

The Bahamas tax regime is not sustainable. Do your homework. It is a terrible regressive tax system that only appeals to the rich. On my Bahamian Family Island gas is $8.50/ gallon. A dozen eggs $8.00. We continue to borrow and spend like no tomorrow. We are over 100% debt to GDP. Every one of our State owned enterprises is in the tank. Crime is through the roof, murders at an all time high. The biggest problem in The Bahamas is our regressive tax system. I pay over $100.00 VAT on my health insurance alone. We also have price controls on many items, due to the rate of impoverishment of our people. We have a huge social service bill each month, also because of so much poverty. That "The Bahamas is a sovereign country," is a joke. All small countries are owned. I can prove this. Just like you are a sovereign person. Now, go tell that to the IRS. The tax regime in The Bahamas is killing our people. Obviously you are clueless on this matter.

[@mellowtones1985]

@@ntrabulsyjr To add, the taxes are killing us here in The Bahamas because of corrupt government and civil servants in the government sector.

[@caribbeanradiology7004]

@@mellowtones1985 you are just lazy stop looking for government handouts

[@mellowtones1985]

@@caribbeanradiology7004 lazy? Looking for us handouts? 😂 wow

[@melkajerry1248]

I will forever be indebted to you Mrs Susan and this channel you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs Maura Susan

[@kasyjeff6654]

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This is not the first time I am hearing of Mrs Susan and her amazing trading skills but I have no idea how to get to her

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@investwithsusan1

[@melkajerry1248]

Reach out to her on tele gram

[@vivianedwin7832]

@@melkajerry1248 I'll tell her you referred me, thank you very much.

[@WhispersOnLy]

SBF: "The industry has potential to improve a lot of people's lives.." Translation: Take the money out of their wallet, put it into my wallet ⚡

[@bullpup1337]

greatest thief this century

[@LEARSIKCIGAM]

+1

[@repairman99]

Get your money and give more money to the DNC.😂😂😂 The the corrupt DNC is all quiet about it.

[@malachigrindle7063]

Box not wallet

[@asyayaka8183]

I’ve been under since day one, (April 2021). When BTC was supposed to go to $100k, It didn’t. I’ve been buying and hodling ON26AM and i know my patience will pay off .

[@randomcon123]

Not just FTX… Bahamas is a popular choice of many CFD platforms due to its lax regulations

[@dfitzerl]

How are the regulations lax?

[@randomcon123]

@@dfitzerl first and foremost, it is a lot easier for someone to set up a trading platform in the Bahamas than it is say in the UK under the FCA rules. Also, a platform set up in the UK will be protected by FSCS rules as long as you are classified as retail clients. companies need to follow stringent rules, including that client money must be held in separate account and cannot be used in the daily operations for the firm. Unless there’s been rules changes, I don’t think companies in Bahamas will have to follow this rule.

[@dfitzerl]

@@randomcon123 you lost me when you said, "I think" People are so quick to talk about that which they are not certain about. The Bahamas exceeds the OECD standards that the OECD countries don't adhere to themselves This is an ongoing political smear job. If the OECD countries cannot control their own citizens, don't try to force other countries to disadvantage their citizens to facilitate your desires. No one can prevent fraud, you can detect it and respond accordingly. Ask the GREAT USA if they prevented Maydoff?

[@randomcon123]

@@dfitzerl OECD standards… wow amazing. You do realise why a lot of the UK brokers have a second label usually registered in Bahamas, Cyprus or sychelles? That’s because after FCA made it lot more difficult for retail brokers to offer ridiculous level of leverage to retail traders, these brokers opted to open a second label in these countries so they could continue making money out of retail traders. I know this because I am an approved person under FCA and I also have a license in the US. The only thing is I don’t deal with retail clients

[@dfitzerl]

@@randomcon123 I stand by my statements about The Bahamas. Check for yourself

[@scriptsmith4081]

She added, "This has the potential to adversely affect the Bahamanian clothing industry," (given that it is the Emperor's Clothing Industry.")

[@theyasin4596]

Now that FTX is gone for good I would not give up on all cryptos yet. And I'm not alone seems like even Amazon is now into it they made AMA1000X if you don't know yet

[@dr.refath7085]

Crypto in whole is a scam.

[@e.be.so.fr.]

This is a bot

[@darren5376]

Scammer

[@mgw5377]

1.4 likes 2 replies and now a 3rd. Yeak ok

[@massimo931]

Hodl anfd buy the dips., guys 💸🤣

[@e.sanoop110]

Nice vdo. How long is it gonna take to extradite him and others back to the US?

[@hydbrawlstars9114]

Great video as always. I notice that you display the ON26AM! I just got some too!

I posted numerous comments on your previous videos months ago asking how FTX can afford to pay 5% yields on any balance of any type of crypto. The signs were all over that they were illegitimate. AMA1000X is the only we can trust based on brand and utility.

[@jg5875]

Scam

[@JMARTIN1947]

gigantic scam according to economists who shave and do not wear tee shirts.

[@andymullarx6365]

It's the reason we hear the term offshore so often. Cayman Islands accounts for instance. It's where the worlds grifters attempt to shield themselves from accountability and taxes. The Caribbean is a kind of modern day pirates cove.

[@lapiswolf2780]

Kinda was for a while now.

[@FinancialShinanigan]

Thanks SBF, New Balance is back in style!

[@whattheysaid2000]

The hecks wrong with KZbin nowadays? Comments section filled with scam bots.

[@hulya4960]

If you hold into the crash it's your own fault. Amazons AMA1000X the way out and it's here for anyone to use - should be aware on this as a chance this year which is rare even for the century guys

[@massimo931]

Hodl anfd buy the dips., guys 💸🤣

[@anishthapa5058]

Scammer

[@thomaspick4123]

@@TookAHikeNowWhat What the heck is it? No explanation, no link.

[@thomaspick4123]

@@TookAHikeNowWhat Ridiculous statement. There is never any money you can spare. Warren Buffet, a multi-billionaire took Bill Gates out to lunch at McDonalds. To pay for it, Warren took a bunch of discount coupons out of his pocket to help pay for the lunch. Do you think Warren has any idea about spare money you can afford to lose? Certainly not! Do not ever listen to a person who says only invest what you can afford to lose. That is a ridiculous statement.

[@carlmannhard8051]

@@thomaspick4123 Scam ofc. What do you think

[@emperortheoden811]

Don't doubt the whole thing just because some fools like FTX failed us. We are right in time with the rainbow chart and right in time with closing this downhill for good and the catalyst to that is also there now that Amazon went ahead to announce AMA1000X

[@simulationl279]

its a ponzi scheme and did the exact same way Enron collapsed. also go offshore to escape regulators

[@Chris-cx6wl]

Scams on scams

[@stirfryjedi]

Ah, another copypasta comment upvoted courtesy of a legion of robo liking bots... another day of refreshing and thoughtful reading on the internet.

[@prancer1803]

@@stirfryjedi haha!

[@drmodestoesq]

@@stirfryjedi Yep. Now the guy with guns, canned food, and silver bullion in his basement is starting to look like the grounded rational investor. Or at least...he's not running a scam.

[@curtisgrindahl446]

Thank you for sharing this video.

[@gladegoodrich2297]

You better believe a lot of the missing money is hidden off shore!

[@SoCalFreelance]

WSJ your channel is PACKED full of financial and crypto SPAMMERS!! 😩 #KZbin pays all these programmers super high salaries, for what??? They need to update their SPAM detection algorithms.

[@Jabberstax]

How did he think he would actually get away with it???

[@GenghisKhan311]

Democrats

[@GenghisKhan311]

Nothing will happen to him

[@larryo6874]

For awhile crypto kept rising so one could always just sell some of it for cash and do OK. Now crypto is losing value so good accounting matters but FTX was very fast and lose with accounting to the point where they were buying million dollar homes with customer’s money and then they couldn’t sell their crypto for cash because nobody believed their crypto had any value and the whole thing came crashing down.

[@baduu0]

always great info. thanks for sharing.

[@HelloWorld-pc3ku]

You didn't mention how corrupt is the SEC

[@Alexander-tu8cs]

*EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️... IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING*

[@viktornasirvlad2492]

*Assets that can make you rich Crypto Stocks Real estate*

[@viktornasirvlad2492]

it's obvious. a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to stay poor

[@dennisneol3318]

[@dennisneol3318]

The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.

[@joshbrian1906]

This Bitcoin trading has set sail. I honestly cannot overemphasize how much delving into Bitcoin trading has helped saved and changed the lives of many.

[@Gump-tion]

@00:22 That was the premoniton of FTX's fate in plain sight.

[@JaJA-qt3br]

I’ve been holding BTC since 2016. I thought I was too late then. Always good to see another king of patience doing well and was smart enough to put my money in tether 2 years ago

[@davidnorth3411]

I’ll have to say this one particular story was a thread that kept unwinding .

[@thomasjamison2050]

I know a couple who bought a lot in the Bahamas so they could build a house on it. The first time they went to the bank to discuss a loan, the banker they first talked to opened with the question "just how much money did you want to launder?"

[@jasonpark1556]

Ah yes the good old "how money did you launder"

[@Daboy804]

Dumbest lie I ever heard

[@jasonpark1556]

@@BillyMayDays yes I do lol

[@adiaj9228]

This sounds made up 🤨

[@thomasjamison2050]

@@adiaj9228 True story. The main reason the UK government did Brexit was to keep the EU from putting laws against laundering money in place for the UK.

[@jollyclark9479]

Hit 35k today thanks for your knowledge and skills you have thrown my way this few months. I started trading with 5K in last two months.

[@RayMak]

It’s a really beautiful country. Look at the sea!

[@thisguy73]

I feel like the reporter played piano growing up based on her fingers.

[@mahmutduzbakamayan1154]

Stability, usecase, utility. These are factors which should transform you into a buyer and not the idea of whatever it's gonna work. This sounds simple but apprently still too difficult to most. My idea is Amazons AMA1000X, they provide all these values and more.

[@adnanjaved2909]

Bot

[@carmiethompson2676]

Crypto sucks because it's electronic. It'll give Dictators like Justin Trudeau a strong hand on your finances. Currently he can only intimidate the Banks.

[@VEVOJavier]

Bot

[@user-dm8zp9ru8h]

I like how whoever designed this bot be like, A should be the reason why you do something and not B, and here's my B on why I do this and you should too!

[@abcdefghijkl897]

It’s a bot. Report it

[@bangtanstyle7843]

I did not believe that after the whole FTX drama there's any good to get this year but Amazons AMA1000X proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth

[@Chris-cx6wl]

Scams on scams

[@Cmcusa]

I'll buy this because I need some trust back. Amazon didn't fail yet

[@scamalert174]

Verified by coinmarketcap, it's real

[@brokeduece1691]

How do I short AMA1000X?

[@spiritember4940]

SCAMMER

[@danielweston9188]

Bribery is the reason to do business in the Bahamas much cheaper than a 25% tax for sure.

[@rroulette2660]

We want a detailed list of ALL politicians who received money from FTX

[@philliproberts8388]

FTX collapse has nothing to do with wanting to set up their headquarters in the Bahamas. The Bahamas saw the opportunity to attract a international company and made it possible for them to come to the Bahamas by creating policy to make it happen. As you said in your video, the Bahamas is even ahead then the great United States when it comes to legislation for crypto currency companies. #imbahamian

[@laowai2000]

Shameful acts can happen anywhere regardless of regulations.

[@aksbeixhev]

@@laowai2000 it definitely happens more often in tax havens of obvious reasons

[@philliproberts8388]

@Yeah Yeah I must say it is amazing that you would make such a foolish statement considering we a put to a higher standard then the country who are blacklisting us. There is no other countries that are more corrupt the the EUROPEAN UNION, CHINA AND THE UNITED STATES

[@CrocodileWhispers]

Why are you bragging about the Bahamas being ahead of the US in crypto laws…. When those laws have clearly failed? I mean FTX didn’t even have an accounting department… you’d think you’d want your Country to have contact with an accounting department.

[@laowai2000]

@@aksbeixhev Just imagine Madoff's potential if he had been offshore!

[@barbarabarnett9600]

Sounds like a bunch of significant folks were hurt significantly. He needs to watch his personal back.

[@guardianoffire8814]

He'll certainly have to watch his back as lot of criminals, terrorists and governments facing sanctions use crypto currency.

[@CHMichael]

There is Cia (etc) , cartels , general bad guys. Maedorf made sure he gave his last money to the right people, I wonder if Backman did the same? Let's see if his mom is going to have a car accident in the near future.

[@larryo6874]

Not Warren Buffett however….

[@bullpup1337]

he is a conmen who spent a lot of money on lobbying and corruption. he will be fine.

[@willlopez8904]

The scene with Sam and the office of the prime ministers on the beach with the shovel will probably be the only time where Sam has dressed "appropriate" for the situation.

[@Steven-xf8mz]

How could FTX collapse harm Bahamas? FTX was looking for a place without regulation enforcement but with regulatory measurement so it can make itself look good at the same time it doesn't want to be regulated. Bahamas wants to draw in business while looking good but doesn't want to enforce regulation to keep people out. This was a win-win situation until it doesn't go well. Well informed people likely know about the setup and everyone else just go by face value.

[@tomdavis1694]

Yep, just window dressing for a house on fire.

[@larryo6874]

It harms Bahamas because now some people will associate scams with the Bahamas just like people when I hearing about a business in the Cayman Islands.

[@TheBoss-ey1li]

This shows why regulation is important.

[@editsfut07]

Can't deny the fact that Amazons *AMK29X* has the strongest bet to bring lights back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good but the pressure is too high and I think they will keep proper liquidity rather than these others. Don't see them going bankrupt any time soon.

[@garytech]

How can I BUY SOME amk ? Can I shove it up my ar*e ? Will it bring me to the moon ?

[@Puma-ph5ep]

@@AXONEmusic stop the scam botting.

[@papayayaya5049]

Scam, Amazon will never do crypto

[@tioswift3676]

🚨🚨🚨🚨 SCAM 🚨🚨🚨🚨🚨🚨

[@mdjx6838]

Amazon is as centralized as it gets and is not a blockchain, they are simply adopting the tech, which means none of the fees and control, thus their being able to stop your transactions and shut down your account if u don't obey the mark of the beast is still present. The XRPLedger is faster, cheaper and has never been hacked since it's been running 12 years ago, plus it's open source and thee choice of big institutions and SMEs to bridge currencies and send value anywhere in the world, the only real alternative to Swift, which is why the US gov sued Ripple and are trying to ban the real competition to their monopoly, Ripple being currently the biggest company using the XRPLedger.

[@cryptic_badger795]

I loved the way you try to gaslight readers of the WSJ with your recent newspaper headline "FTX's Collapse Wiped Out Founder's Philanthropic Aims" because it should read "FTX's FRAUD Wiped Out CUSTOMERS MONIES" 🧐

[@viralsheddingzombie5324]

I can't see that the US SEC has any jurisdiction in the Bahamas. IF other subsidiaries are domiciled in the US, then the SEC would have jurisdiction of those entities.

[@Joybuzzard]

Not just Bahamas. They bought the same land McFarland used for the Fyre Festival scam. I keep wondering if there are other links between Fyre and FTX.

[@ryansandan7897]

Wait a minute...

[@Insufficient202]

😮

[@PopLolli1]

Or between Bahamas prime minister and scams

[@ash_17406]

Did you just clear make this up?! The Fyre land was in Exuma and the HQs land is in Nassau.

[@3piece250]

😮

[@DragonOfTheSkies]

It’s a shame they went under. FTX had a really nice user interface for their app and website. Debit card was awesome too. But I’m just glad I only had like $3 in there.

[@PoeLemic]

Glad you only lost $ 3 bucks. Lucky you. I lost about $ 2.5 million, probably.

[@DragonOfTheSkies]

@@PoeLemic Jesus Christ….. I’m sorry to hear that. And that’s why you need to invest in a hardware wallet like a Ledger Nano.

[@miguelchang5520]

Nassau is the area known for Pirates during the golden age of piracy. Now SBF is the modern day pirate.

[@culturechatt]

We all know the money is not lost.

[@jennifersean1063]

*Stop* *wasting* *time* *and* *money* *on* *things* *that* *doesn't* *matter,* *invest* *it* *so* *you* *can* *have* *multiple* *streams* *of* *income* 🔴🔴

[@elizabethalex8281]

My weekly earnings from his trade strategies are mind blowing🤑

[@theresawagar4524]

I'm from the UK🇬🇧, I and my colleagues gave him a try and it has been good returns of our investment, Thanks Mr David Carter

[@ropro9817]

Lol, there's a German word for the giddy emotion that I'm feeling now: Schadenfreude 🤣🤣🤣

[@Kaan_goknar]

Bro, i bought ON26AM in September after your video. i'm up 79%.

[@peterbradshaw8018]

The same reason Robert Vesco went there back in the day.

[@anthonyrose6686]

Sam thought of everything to evade taxes and peoples money Lolo this was the plan

[@VictoriousGardenosaurus]

I can find better reporting on this topic from video game channels. Step up WSJ

[@95TBake]

WSJ is trash...

[@lashlarue7924]

Gee, who could have ever imagined that a financial house specializing in Beanie Babies could ever go bust? 🤷🏻‍♂️

[@graemeess]

Amazing how the crypto props are gold coins, but the irony is there is no asset backing the crypto!!

[@gus473]

Can't even take a tax loss on an FTX account! 😅 Thanks, "SoBF."

[@joe.oneill]

They chose it to avoid being raided.

[@kr02201985]

Should I investors in crypto not open accounts with exchanges that have HQ outside of the US

[@lesabri]

SBF would probably better off in prison than out waiting for a hitman

[@kfighterkfighterTBTR]

The reason FTX was able to set up shop is because Bahamas is just as thirsty as any other Caribbean country. They’ll take anyone who comes with a duffle bag of money for its leadership 🤷🏾‍♀️

[@adiaj9228]

You are truly talking TRASH. It’s evident you don’t know NOTHING about Economics or the Bahamian economy.

[@philipwilliamson5332]

You mean just like America and its spotless history?

[@larryo6874]

Like the Cayman Islands as well. 😊

[@MaudePoison]

She isn't lying... the reason Bahamians can't prosper is because the government is "all for me baby"! They are enriching themselves from foreign investors' duffle bags all on the citizens' backs. And the citizens suffer because there's no perks in it for them!!! Just crumbs when they feel like it. Lawless, slack country overran by foreigners while the people are hurting!!!

[@ismailhamza619]

Looking for a new stock or Cryptocurrency to invest in. Short or long term Gains. i was at a seminar and the host spoke about making well over $3.5M within 4months of investing $450k.

[@ismailhamza619]

@rub tyson Wow that's an awesome returns of investment, indeed there's a lot of money to be made in crypto markets trading, I guess it has to be with right people around you. Can you recommend him to me as well? How do I get to him?

[@ismailhamza619]

@rub tyson Ok, just found his website, impressive, Thank you

[@TinkerBellTWERKS]

That’s the ONLY time they held a shovel

[@bobbymunyavi5357]

How did people do all this without analysing FTX. Are people that foolish?

[@backbayboy1]

Never going to recover all the money.

[@oliviao2238]

Most of the time, people generally want to lose money to say they are a victim. This world does not have many victims, which solves this issue quickly. The ambiance of character makes it alluring in this climate

[@annmariehuggins-hikel8057]

Isn't the woman talking in the video part of FTX as she was sod turning at the opening of it?

[@meowmeow1733]

Sam Bankman-Fried......A pimp named slick back His family must have been inspired by that episode.

[@valdomero738]

He is gonna flee to Israel easily.

[@gabrielgarcia7554]

Israel has extradition to the U.S., so I don’t think that would be the wisest of choices.

[@jasmymakemeyen666]

@@gabrielgarcia7554 lol go ask Jonathan Pollard

[@moali68]

Hopefully SBF being interested in wanting to "give back to various causes", includes giving back to all of the people he stole money from.

[@PaliAha]

(1) I'm just a truck driver. Sam Bankman & his parents are all smarter than me. But how long did he think he'd get away with this? Mind boggling. (2) The cute reporter Angel's trying to hid her tattoo.

[@agll7709]

Will you make any research videos about ON26AM

[@spoileralert3754]

Years ago Yahoo was valued at higher than McDonalds and Good Year. What I don't understand, was why didn't they leverage their value and buy Good Year or some other company? The cyberspace company would suddenly have credibility with an asset making positive income. But No, their investors wised up that cyberspace is vapid and the stock plummeted to where it is a small player today. FTX failed to take advantage to their value and is now discredited and filed for bankruptcy. It's a shame.☮️

[@rolandgonzales3343]

Why don't nations ban companies registered in the Bahamas? Regulations are created to protect citizens yet companies are allowed to disregard these protections because of paperwork? It's beyond my understanding.

[@VicholProject]

On ON26AM go long when the sell pressure reduce.

[@williamhoffer9277]

There will be no retribution taken against SBF because of the amount of money he still holds and his families ties to the Democratic Party!

[@madhatterwonderland4834]

No retribution against SBF? I don't think that applies to the more than one million creditors.

[@PrestonDog360]

That lawyer looks like the one Nathan for you trolled

[@xKevmachinex]

listening to all of SBF old media is really eye opening.... people can lie, to your face with such ease, its scary!

[@mvl9591]

The “coins “ they show on the video are always gold.

[@bachblues2]

I still recall the campaign. "It's better in tge Bahamas" Really?

[@trubox1410]

I am seeing ON26AM everywhere can you make a video for these ico projects especially ON26AM

[@stuartatkins5425]

I like my gambling at the casino. Besides, there's an old adage that says you should never gamble with what you don't know, and I sure don't nothing about crypto.

[@ruufpay]

If the Bahamas releases very favorable laws for companies then I'm sure the FTX downfall will gradually become overlooked. An entire geography won't be held liable due to a single company.

[@karen4U]

There are more SBF´s running arround...this is so funny :)))

[@garyrim332]

How much of WSJ sbf own or how much money you guys get from him for not calling him fraud

[@nikitakucherov5028]

Why would the SEC be involved with a company that has its headquarters not in the US???

[@absi1155]

First fyre festival and now this.

[@madhatterwonderland4834]

，".... to be a home of global leaders..." Well, that statement itself is worthy of deep reflection.

[@tarkdemirbas4404]

What's better holding into crash or being safe with ON26AM tell me