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Bahamas government worked with SBF to mint new crypto before his arrest

Nishit Jogi by Nishit Jogi
December 13, 2022
in News
Reading Time: 1 min read
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Home » News » Bahamas government worked with SBF to mint new crypto before his arrest

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Before the failed crypto magnate was arrested on Monday, lawyers for FTX said in a court filing that Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems of bankrupt FTX Trading.According to the legal team in control of FTX, before Bankman-Fried was blocked from FTX systems, the Bahamas asked him to mint new digital coins worth hundreds of millions of dollars and then transfer those tokens to the control of island officials. The accusations escalate a conflict between an American team of restructuring executives attempting to collect FTX assets in order to repay creditors and Bahamas officials. The island’s liquidators have asked a US judge for access to FTX data controlled by their American counterparts.

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