Antigua & Barbuda to assist with International Investigations into FTX

13

SOURCE: LOOP CARIBBEAN

Antigua and Barbuda says it will be working with international agencies in their investigations into the collapse of the FTX Cryptocurrency Exchange.

Information Minister Melford Nicholas confirmed the development to journalists at today’s post-cabinet media briefing.

FTX was the third-largest cryptocurrency exchange when it collapsed last month.

The company filed for Chapter 11 bankruptcy protection in the United States on November 10.

Bahamian regulators have seized digital assets of the FTX’s Nassau affiliate FTX Digital Markets Ltd (FDM).

The Bahamas Securities Commission (BSC) transferred all of the digital assets into a wallet it controls for the benefit of clients and creditors of FDM.

The Government of Antigua and Barbuda met with the Solicitor General, the Deputy Solicitor General, a Crown Counsel, Head of the Financial Services Regulatory Commission (FSRC) during yesterday’s cabinet meeting to discuss issues surrounding FTX.

FTX is incorporated in Antigua and Barbuda but it was not granted a license to operate.

“Following vigorous discussions with the lawyers, the Attorney General and the FSRC Officials, the Cabinet concluded that no liability attaches to the State of Antigua and Barbuda,” a statement from the government said.

Nicholas added the FTX collapse is a learning experience for regulatory agencies globally.

“The government has remained transparent and open in this particular matter. We want to assure all our residents and citizens that there is no need to have any fear or feel embarrassed or ashamed.

These things happen in new industries and it’s an opportunity for all of the respective regulatory agencies to learn from the experience and close any doors or improve any regulatory oversight for any future business like this that may be established,” Nicholas stated.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Antigua and abroad!
Contact us at [email protected]

13 COMMENTS

  1. The scoundrels are going to ‘help’ with investigating themselves — in doing so, they’ll ensure that their names won’t come out in the wash. Brilliant!

  2. How come when anything effects ABLP ministers dem mout’ run like water fountain; and yet, when Antiguans want help and guidance regarding their own circumstances and the economy, these same said politicians dem, dry-up like a desert. 🏜

    Self-interested; self-entitlement; self-enrichment and self serving wickedness continues out-of-control government.

  3. Why these crooks seek out Antigua or maybe the leader seek them out once he sees money. We know he is consumed with more wealth creation for himself like ratta like cheese. Tell them crooks to go to other Caribbean islands nah. We are tired of our country being in some way involved with crooks. What does other people think of Antigua and our government.

  4. @ TEARGAS TEARGAS TEARGAS TEARGAS TEARGAS TEARGAS

    THE PHYSICAL PAIN AND SUFFERING CUTIE AND GASTON PUT ANTIGUA PEOPLE THROUGH THEY OUGHT TO BE ASHAMED AND CONDEMNED.

    GET RID A DEM!!

  5. Hmmm he should have been investigating his ‘Billionaire’ buddy instead of Franz! What a shame and disgrace. This thing is sending shockwaves all over.

  6. This is some kind of joke. How exactly are they going to “help” with the investigation? There are so many scandals out there that have gone untouched for years yet somehow, all of a sudden, they have developed conscience? I don’t think so. Something is rotten here. Antigua is probably more involved that we know at this time, but we will find out. There are so many countless unsolved cases here locally that baffles our law enforcement, how on earth are they going to investigate something on this global scale? They are saying not to worry? Well, I say we should be worried. They even dare to use the word “transparent.” This government?
    Why would Mr. Thomas resign from CUB? What does that have to do with FTX? Why was there a trip to the Bahamas where FTX is headquartered? Watching.

  7. ABLP All Bullshit Lying Politicians motto

    Each self enriching, all a teefing.

    As the so called minister of finance, how it is Gaston Browne had no clue about any of this? He must think all of us fooley.

  8. Given that Nicholas says they the Government and ABLP want to be transparent; here are a number of issues to hat need to be disclosed by the Government that would be seem as an element of transparency
    1. What were the circumstances that led to Mr. Thomas being an Officer/Director of FTX parent company which is domiciled in Antigua and Barbuda
    2. Who are the other local Antigua and Barbuda officers/Director of FTX if any
    3. Gaston said he net with where was that meeting held
    3. Why did Mr. Thomas resigned from CUB, a government owned domestic financial institution rather than the one the regional financial trading institution given what took down FTX is it’s Trading and Market Making Unit
    4. What is the (a) exposure and or (b) the known or (c) expected losses as a result of FTX bankruptcy filing

  9. What become of the CRUMBS SNATCHERS?
    Are they to busy campaigning? Tenman & Co to extend the crumbs snatching
    Is it that you are too busy fighting under the table for the ABLP crumbs.
    What’s Up with the silence?

Comments are closed.