Posted on 12/30/2022 12:29:59 PM PST by ChicagoConservative27
The Securities Commission of the Bahamas claims that it has moved $3.5 billion from FTX’s Bahamian subsidiary, FTX Digital Markets, into its own digital wallets for “safekeeping” while former FTX CEO Sam Bankman-Fried awaits trial in the United States.
CNBC reports that the Securities Commission of the Bahamas recently announced that it has seized $3.5 billion worth of cryptocurrency from failed crypto exchange FTX. In a statement released on Thursday, the watchdog confirmed that it had seized the cryptocurrency from FTX’s Bahamian subsidiary, FTX Digital Markets.
(Excerpt) Read more at breitbart.com ...
Did they hack in?
They otta take it out of that punks hide.
Bahamians are experts at corruption, ask one, or even the ex-pats (mostly Brits) that spend winters there.
Ha! Years ago we were in the Bahamas, Paradise Island Resort, I was in the ladies bathroom. As I was leaving I glanced down and in the groove of the door I saw a bracelet. I had no idea why, it was grungy, but put it in my pocket. Later I took it out and it was a diamond tennis bracelet, (later valued at six thousand). With friends who owned a condo there and I wanted to take it to the front desk and report it. They laughed and said it would be grabbed immediately, I then said well I will take it to the police, they laughed harder and said that would be even worse, “keep it, it was meant to be”.
.
Aaaaaand.......It’s gone.....
.
Sounds right. Most of the natives who aren’t part of the govt are the sweetest people though, very loveable and friendly. We made some good and lasting friends there. One couple has even visited us, freezing, freaking and hopping around on the Continental Divide in the summertime.
Heh. My wife’s best friend bought a house there and it’s just closing. Meanwhile, she also made an offer on a 50 foot boat. We’re going down in a few days to do the “sea trials” to seal the deal.
She is so anxious to get out of the US she can’t stand it. 11 years ago I did the same thing, but for me I just moved to rural Kentucky. At least I can have all the guns I want here. She can have guns on her boat, but not on her real estate. But since she has 120’ of moorage where she will park the boat, that’s not much of a problem. 🤣
But yeah, this banamas thing is exploding. We just found out her accountant’s son just moved there. For us, she wants us to spend a few months each winter there. We’re willing to oblige.
What is a crypto asset?
I always thought crypto currency derived its value from scarcity. Limiting the supply drives the price up. The less of it there is, the more it’s worth, and the more demand there is for it.
Ideally, there would be none at all.
Thank goodness it’s safe now.
Exactly what does "worth" mean here?
That happened to me at o’hare airport in the 90s.
I tried to call the ripper police and give my info. I said “hey if anyone reports a missing bracelet have them call me…. If they describe it I’ll send it to them.”
Cop (she) said “send it to me. I need a new bracelet.”
Safekeeping today...
More Leftist graft tomorrow...
This is the last we’ll every hear of this fund.
I could be wrong. We’ll see.
“Bahamas Regulators Seize Crypto Assets from FTX Worth $3.5 Billion for ‘Safekeeping’”
but, but, but Magic Internet Beans are anonymous, secret and untraceable, especially by THE GOVERNMENT, right? ... at least that’s what the crypto bros keep telling us is one of their major virtues ... that, and they’re GREAT stores of value ... AND fantastic hedges against inflation ... and because they’re wound around blockchain, Magic Internet Beans are EXTRA supercalifragilisticexpialidocious ...
everyone needs to run out and buy a bunch with REAL money (which, btw, is 100% worthless, don’t ya know) before they’re all gone ...
“I’ll hold on to that for you.” - Hunter Biden
“The funds were transferred to the digital wallets of the [Bahamas] Securities Commission on November 12, just one day after FTX filed for Chapter 11 bankruptcy protection in the United States.”
it sounds to me like they just stole it ... ain’t crypto grand!
In the 80s, I would fly family and friends down to the Bahamas on occasion in light aircraft. On landing I would be informed of the landing fees, which I would have to provide in cash. On departure I would be informed of the departure fees, also to be provided in cash. In all cases, I would watch it go from my hand to the officials pocket. No receipt. I was smart enough not to question any of it.
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