Former FTX CEO Sam Bankman-Fried has admitted to reopening withdrawals for local Bahamian citizens without authorization, as he didn’t want to be in a country “with a lot of angry people in it.”
FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users.with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried claims to have made the decision to reopen withdrawals to Bahamian citizens as he did not want himself, nor the exchange, to be in a country “with a lot of angry people in it.
Bankman-Fried claims he gave Bahamian securities regulators a “one-day heads up” that FTX was going to do it, but said the regulator neither responded with a “yes or no,” before he ultimately decided to go ahead with allowing withdrawals. The now-defunct crypto exchange initially halted all withdrawals on Nov. 8 as a result of liquidity issues.
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