“1) Per our Bahamian HQ’s regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.”—FTX_Official
”FTX Announcement Regarding the Tron Credit Facility: We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.”—FTX_Official
Both of these seem to be causing some amount of chaos. The first looks bad in terms of potentially being a loophole for FTX employees to cash out; but is also understandable in terms of having good relations with their host country. The second has caused the price of the Tron tokens to spike massively on FTX, with people speculating that Justin Sun will be making huge profits out of it. Neither look great from a globally equitable perspective for FTX account holders, but maybe they are better than nothing (or an 8+ year wait for everyone like in the case of MtGox)?
Ok, now the Security Commission of the Bahamas has frozen FTX’s assets. Was the withdrawal by Bahamian account holders supervised by the Security Commission from the beginning? (Or have they been digging an even bigger hole for themselves?)
“1) Per our Bahamian HQ’s regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.”—FTX_Official
”FTX Announcement Regarding the Tron Credit Facility: We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.”—FTX_Official
Both of these seem to be causing some amount of chaos. The first looks bad in terms of potentially being a loophole for FTX employees to cash out; but is also understandable in terms of having good relations with their host country. The second has caused the price of the Tron tokens to spike massively on FTX, with people speculating that Justin Sun will be making huge profits out of it. Neither look great from a globally equitable perspective for FTX account holders, but maybe they are better than nothing (or an 8+ year wait for everyone like in the case of MtGox)?
Ok, now the Security Commission of the Bahamas has frozen FTX’s assets. Was the withdrawal by Bahamian account holders supervised by the Security Commission from the beginning? (Or have they been digging an even bigger hole for themselves?)