FTX staff lived the high life in the Bahamas. Following the exchange's high-profile collapse, the country is trying to rebuild its reputation.
In this part of Nassau, out of view of the opulent resorts and sandy beaches for which the Bahamas are known, provisions like these are scarce because money is tight. As the care packages are handed out, the congregation hollers and applauds. Led by Bishop Lawrence Rolle, known locally as the Singing Bishop for his animated vocal displays, the church relies on donations to fund its community feeding program, which serves thousands of people each year.
” Crypto startups were affected worldwide, but in the Bahamas, doubly so. The collapse was a “pretty deep cut,” says Tim Byun, head of government relations at OK Group, parent company to OKX, which received a license to operate in the Bahamas only days before FTX collapsed. “I think it set back the ecosystem significantly.” Byun says OKX still wants to expand in the Bahamas, and he likes the country’s DARE regime.
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