FTX remains focus of 'active' investigation, Bahamas attorney general says

FTX, which had been among the world’s largest cryptocurrency exchanges, is headquartered in the Bahamas. The firm, whose liquidity crunch forced the company to declare bankruptcy on Nov. 11, is the subject of investigations by Bahamian and U.S. authorities. In mid-November, the Royal Bahamas Police said that government investigators in the Bahamas were looking at whether any “criminal misconduct occurred.

Pinder also defended the Bahamas’ regulatory regime and said that its Securities Commission had moved quickly “because of the strength of the legislative framework.” “Any attempt to lay the entirety of this debacle at the feet of the Bahamas, because FTX is headquartered here, would be a gross oversimplification of reality,” Pinder said, adding that the Bahamas Securities Commission had moved with “remarkable” speed in response.

The liquidity crunch came after Bankman-Fried secretly moved $10 billion of FTX customer funds to his proprietary trading firm, Alameda Research, Reuters reported, citing two people familiar with the matter.

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